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The balance sheet provides a snapshot of the financial condition of a company. Investors and analysts use the information given on the bal and
The balance sheet provides a snapshot of the financial condition of a company. Investors and analysts use the information given on the bal and other financial statements to make several interpretations regarding the company's financial condition and performance. Green Caterpillar Garden Supplies Inc. is a hypothetical company. Suppose it has the following balance sheet items reported at the end of it of operation. For the second year, some parts are still incomplete. Use the information given to complete the balance sheet. Green Caterpillar Garden Supplies Inc.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 $6,457 Accounts payable $0 $0 Accounts receivable 2,953 2,363 Accruals 410 0 Inventories 8,662 6,930 Notes payable 2,324 2,187 Total current assets $19,687 $15,750 Total current liabilities $2,187 Net fixed assets: Long-term debt 8,203 6,563 Net plant and equipment $19,250 Total debt $10,937 $8,750 Common equity: Common stock 21,328 17,063 Retained earnings 9,187 Total common equity $32,813 $26,250 Total assets $43,750 $35,000 Total liabilities and equity $43,750 $35,000
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