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Suppose the following items were taken from the December 31, 2017, assets section of the Sheridan Company balance sheet. (All dollars are in millions.) Inventory

Suppose the following items were taken from the December 31, 2017, assets section of the Sheridan Company balance sheet. (All dollars are in millions.)

Inventory $16,060 Patents $12,100
Notes receivabledue after December 31, 2018 5,580 Buildings 20,770
Notes receivabledue before December 31, 2018 325 Cash 7,500
Accumulated depreciationbuildings 13,340 Accounts receivable 5,550
Debt investments (short-term) 1,550

Suppose the following items were taken from the December 31, 2017, assets section of the Sheridan Company balance sheet. (All dollars are in millions.)

Inventory $16,060 Patents $12,100
Notes receivabledue after December 31, 2018 5,580 Buildings 20,770
Notes receivabledue before December 31, 2018 325 Cash 7,500
Accumulated depreciationbuildings 13,340 Accounts receivable 5,550
Debt investments (short-term) 1,550

Prepare the assets section of a classified balance sheet. (List the current assets in order of liquidity.)

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Sheridan Company Partial Balance Sheet (in millions) Assets $ Click if vou would like to Show Work for this question: Open Show Work

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