Retained earnings, December 31, 2021 S 149 Requirement 3. Prepare the balance sheet (with a proper heading) for 2021. (Enter all amounts in millions. Classify the balance sheet by selecting the proper title on all applicable subtotal lines. In the first part complete the assets section of the balance sheet. In the second part complete the liabilities and stockholders' equity section of the balance sheet. Classify the balance sheet by selecting the proper title on all applicable subtotal or total lines. If an input field is not used in the table leave the field empty; do not select a label or enter a zero.) Nance Company - X More info Balance Sheet December 31, 2021 Assets (millions) Current assets: Total assets Help me solve this Etext pages Calculator Nance incurred, during that same year, salary expense of $29 million, rent expense of $15 million, and utilities expense of $21 million. Nance declared and paid dividends of $11 million during the year. At December 31, 2021, Nance had cash of $145 million, accounts receivable of $45 million, property and equipment of $37 million, and other long-term assets of $24 million. At December 31, 2021, the company owed accounts payable of $65 million and had a long-term note payable of $31 million. Nance began 2021 with a balance in retained earnings of $71 million. At December 31, 2021, Nance had total stockholders' equity of $155 million, which consisted of common stock and retained earnings. Nance has a year-end of December 31. Print Done Clear all Check answer