The balance sheet provides a snapshot of the financial condition of a company. Investors and analysts use the information given on the balance sheet and other financial statements to make several interpretations regarding the company's financial condition and performance. Cold Goose Metal Works Inc. is a hypothetical company. Suppose it has the following balance sheet items reported at the end of its first year of operation. For the second year, some parts are still incomplete. Use the information given to complete the balance sheet. Cold Goose Metal Works Inc.Balance Sheet for Year Ending December 31 (Millions of Dollars) Year 2 Year 1 Year 2 Year 1 Assets Current assets: Liabilities and equity Current liabilities: Cash and equivalents $1,845 Accounts payable $0 $0 Accounts receivable 844 675 Accruals 117 0 Inventories 2,475 1,980 Notes payable 664 625 Total current assets $5,625 $4,500 Total current liabilities $625 Net fixed assets: Long-term debt 2,344 1,875 Net plant and equipment $5,500 Total debt $3,125 $2,500 Common equity: Common stock 6,094 4,875 Retained earnings 2,625 Total common equity $9,375 $7,500 Total assets $12,500 $10,000 $10,000 Total liabilities and equity $12,500 Given the information in the preceding balance sheet-and assuming that Cold Goose Metal Works Inc. has 50 million shares of common stock outstanding-read each of the following statements, then identify the selection that best interprets the information conveyed by the balance sheet.