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The balance sheet provides a snapshot of the financial condition of a company. Investors and analysts use the information given the balance sheet and other
The balance sheet provides a snapshot of the financial condition of a company. Investors and analysts use the information given the balance sheet and other financial state performance ments to make several interpretations regarding the company's financial condition and Cold Goose Metal Works Inc. is a hypothetical company. Suppose it has the following balance sheet items reported at the end of i first year of operation. For the second year, some parts are still incomplete. Use the information given to complete the balance Cold Goose Metal Works Inc. Balance Sheet for Year Ending December 31 (Millions of Dollars) Year 1 Year 2 Year 1 Liabiities and eqwty Current liabilities: Current assets: Cash and equivalents Accounts receivable $184 Accounts payable $0 12 so 94 6B Accruals 198 Notes payable 247 62 $62 188 Total current assets $562$450 Total current liabilities Net fixed assets: 234 Net plant and equipment SS50 Total debt Common equity $312 250 Common stock Retained earnings Total common equity 610 488 262 s750 $938 Total assets $1,250 S1,000 Total iabilities and equity $1,250 $1,000 Given the information in the preceding tbalance sheet and assiming that Cold Gcose Mctal Works Inc. has 50 million shares of common stock outstanding search
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