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 Wooderaft Company is a hypothetical company. Suppose it has the following balance sheet items reparted 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. 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 56,457 Accounts payable 30 50 Accounts recevable 2,953 2.363 Accruals 410 0 Inventories 0,662 Notes payable 2.324 2,102 Total current assets $19,687 $15,750 Total current liabilities $2,10 Not fixed assets Long-term debt 3,203 6,563 Net plant and equipment 519,250 Total debt $10,937 50.750 Common equity 6.930 Common stock 21,328 17,063 9,187 Retained earnings Total common equity $32,813 $26,250 $35,000 Total assets $43,750 $35,000 Totai liabilities and equity $43,750 Given the information in the preceding balance sheet-and assuming that Cute Camel Woodcraft Company 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. Statement #1: Cute Camel's pool of relatively liquid assets, which are available to support the company's current and future sales, decreased from Year 1 to Year 2 This statement is because Cute Camel's total current abilities balance increased from $2,363 million to $2,953 million between Year 1 and Year 2 O Cute Camel's total current asset balance actually increased from $15.750 million to $19,687 million between Year 1 and Year 2 Cute Camel's total current liabilities balance decreased by 53,937 million between Year 1 and Year 2