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Suppose the following items were taken from the balance sheet of Nike, Inc. (All dollars are in millions.) 1. Cash $2,100.0 7. Inventory $2,300.0 2.
Suppose the following items were taken from the balance sheet of Nike, Inc. (All dollars are in millions.) 1. Cash $2,100.0 7. Inventory $2,300.0 2. Accounts receivable 2,600.0 8. Income taxes payable 70.0 3. Common stock 2,830. 0 9. Equipment 2,000.0 4. Notes payable 310.0 10. Retained earnings 4,850.0 5. Buildings 3,800.0 11. Accounts payable 3,400.0 6. Mortgage payable 1,340.0 Classify each of these items as an asset, liability, or stockholders' equity, and determine the total dollar amount for each classification. (Enter amounts in millions to 1 decimal place, e.g. 45.5 million.) Stockholders' Equity - Cash Stockholders' Equity Accounts receivable Liability Common stock Stockholders' Equity 4 Notes payable Liability Buildings Stockholders' Equity - Mortgage payable Liability Inventory Liability Income taxes payable Assets Equipment Liability Retained earnings Stockholders' Equity Accounts payable Assets A 2,000 Liability A Stockholders' equity $
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