The balance sheetprovides 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.Fuzzy Button Clothing 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 for Fuzzy Button Clothing Company for the years ending December 31, Year 2 and 1, respectively.

Fuzzy Button Clothing Company Balance Sheet Years ending December 31 ASSETS Current assets: Cash and equivalents Accounts receivables Inventory Total current assets Net xed assets: Net plant and equipment Total assets LIABILITIES AND EQUITY Current liabilities: Accounts payable Accruals Notes payable Total current liabilities Long-term bonds Total debt Common equity: Common stock Retained earnings Total common equity Total liabilities and equity Year 2 v $25,313 $74,250 $168,750 7 $375,000 $0 $3,516 $19,921 7 $70,313 $93,750 $182,813 v $281,250 $375,000 Year 1 $55,350 $20,250 $59,400 $135,000 $165,000 $300,000 $0 $0 $18,750 $18,750 $56,250 $75,000 $146,250 $78,750 $225,000 $300,000