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Suppose the following items were taken from the balance sheet of Nike, Inc. (All dollars are in millions.) 1. Cash $2,200.0 7. Inventory $2,400.0 2
Suppose the following items were taken from the balance sheet of Nike, Inc. (All dollars are in millions.) 1. Cash $2,200.0 7. Inventory $2,400.0 2 Accounts receivable 3,000.0 8. Income taxes payable 80.0 3. Common stock 2.870.0 9. Equipment 1,600.0 4. Notes payable 310.0 10. Retained earnings 5.515.0 5. Buildings 3.700.0 11. Accounts payable 3,035.0 6. Mortgage payable 1,090.0 Perform each of the following. (a Classify each of these items as an asset, liability, or stockholders' equity, and determine the total dollar amount Classify each of these items as an asset, liability, or stockholders' equity, and determine the total dollar amount for each classification. (Round answers to 1 decimal place, eg 5,275.5.) Assets Cash Assets Accounts receivable Liability Common stock Liability Notes payable Liability Buildings Liability Mortgage payable Assets Inventory Liability Income taxes payable Liability V Mortgage payable Assets Inventory Liability Income taxes payable Assets Equipment Stockholders' Equity Retained earnings Liability Accounts payable Assets $ Liability $ Stockholders' equity $
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