The fiscal year for Johnson Company ends on May 31. Results for the year ended May 31, 20X1, included the following (in $ millions except for number of shares outstanding): Cash and Cash Equivalents 45000 Cost of goods sold 195000 inventories 29000 other current assets 6000 Fixed assets, net 217000 Net sales 422000 Receivables 22000 Debentures 77000 Research and development expenses 42000 Administrative and general expenses 65000 Other income (expenses), net -12000 Capital construction fund* 28000 Selling and distribution expenses 41000 Other current liabilities 9000 Treasury stock -13000 Accounts payable 24000 Mortgage bonds payable 84000 Deferred income tax liability 12000 Redeemable preferred stock 15000 Common stock, at par (50,000 shares outstanding) 5000 Paid-in capital in excess of par 102000 income tax expense 51000 Accrued expenses payable 20000 Retained income 48000 Intangible assets 21000 Long-term investments ? *A noncurrent asset Prepare in proper form the balance sheet as of May 31, 20X1, and the income statement for the year ended May 31, 20X1. Include the proper amount for long-term investments.