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Suppose the following items were taken from the 2017 financial statements of Wildhorse Co.. (All dollars are in millions.) Common stock $ 2,280 Accumulated depreciationequipment
Suppose the following items were taken from the 2017 financial statements of Wildhorse Co.. (All dollars are in millions.)
Common stock
$ 2,280
Accumulated depreciationequipment
$ 3,640
Prepaid rent
150
Accounts payable
1,140
Equipment
6,980
Patents
2,340
Stock investments (long-term)
720
Notes payable (long-term)
920
Debt investments (short-term)
1,690
Retained earnings
8,350
Income taxes payable
140
Accounts receivable
1,860
Cash
1,460
Inventory
1,270
Prepare a classified balance sheet in good form as of December 31, 2017. (List current assets in order of liquidity.)
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