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. Cute Camel Woodcraft Company 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. 176 0 Cute Camel Woodcraft Company Balance Sheet for Year Ending December 31 Millions of dollars) Year 2 Year 1 Year 2 Year 1 Assets Liabilities and equity Current assets: Current liabilities: Cash and equivalents $2,767 Accounts payable 30 30 Accounts receivable 1,266 1.013 Accruals Inventories 3,212 2,970 Notes payable 996 937 Total current assets $9.437 56,750 Total current liabilities $937 Not fixed assets Long-term debt 3,515 2,813 Net plant and equipment $8,250 Total debt $3,750 Common equity! Common stock 0.14 7313 Retained earnings 2.91 $4.687 Year 2 Year 1 Year 2 Year 1 $0 1,266 0 Assets Current assets: Cash and equivalents Accounts receivable Inventories Total current assets Net fixed assets: Net plant and equipment $2,767 1,013 2,970 $6,750 937 3,712 $8,437 Liabilities and equity Current liabilities: Accounts payable $0 Accruals 176 Notes payable 996 Total current liabilities Long-term debt 3,515 Total debt $4,687 Common equity: Common stock 9,141 Retained earnings Total common equity $14,063 Total liabilities and equity $18.750 $937 2,813 $3,750 $8,250 7,313 3,937 $11,250 Total assets $18,750 $15,000 $15,000