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 companys financial condition and performance.

Blue Hamster Manufacturing Inc. 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.

Blue Hamster Manufacturing 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	FILL IN	$3,690	Accounts payable	$0	$0
Accounts receivable	1,688	1,350	Accruals	234	0
Inventories	4,950	3,960	Notes payable	1,328	1,250
Total current assets	$11,250	$9,000	Total current liabilities	FILL IN	$1,250
Net fixed assets:			Long-term debt	4,688	3,750
Net plant and equipment	FILL IN	$11,000	Total debt	$6,250	$5,000
			Common equity:
			Common stock	12,188	9,750
			Retained earnings	FILL IN	5,250
			Total common equity	$18,750	$15,000
Total assets	$25,000	$20,000	Total liabilities and equity	$25,000	$20,000

Given the information in the preceding balance sheetand assuming that Blue Hamster Manufacturing Inc. has 50 million shares of common stock outstandingread each of the following statements, then identify the selection that best interprets the information conveyed by the balance sheet.

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