Question
The following balanc sheet jinformation (in $ millions) comes from the Annual Report to Shareholders of Merry International Inc. for the 2016 fiscal year. Certain
The following balanc sheet jinformation (in $ millions) comes from the Annual Report to Shareholders of Merry International Inc. for the 2016 fiscal year. Certain amounts have been replaces with question marks to test your understanding of balance sheets. In addition, you are provided with the following information from an analysis of Merry's financial position at the same date:
Current ratio = 1.352259; Acid ratio = 0.5769692; Debt to equity ratio = 4.6675078
Compute the missing amounts (rounded to the nearest $ in millions) in the balance sheet.
Assets |
|
|
Current Assets |
|
|
Cash and Equivalents |
| $505 |
Accounts and Notes Receivable |
| ? |
Inventory |
| ? |
Other |
| 450 |
Total Current Assets |
| ? |
Property, Plant, and Equipment | $1,307 |
|
Intangible Assets, Net | ? |
|
Investments | 250 |
|
Notes and other Receivables, Net | 1,264 |
|
Other | 1,137 |
|
Total Noncurrent Assets |
| ? |
Total Assets |
| ? |
Liabilities and Shareholders Equity |
|
|
Current Liabilities |
|
|
Accounts Payable |
| $634 |
Accrued Payroll and Benefits |
| 692 |
Other Payables and Accruals |
| 1,175 |
Total Current Liabilities |
| 2,501 |
Long-Term Debt | ? |
|
Other Long-Term Liabilities | 2,206 |
|
Total Long-Term Liabilities |
| ? |
Total Liabilities |
| ? |
Shareholders Equity |
|
|
Class A Common Stock | 5 |
|
Additional Pai-In Capital | 3,644 |
|
Retained Earnings | 3,286 |
|
Treasury Stock and Other | (5,350) |
|
Total Shareholders Equity |
| 1,585 |
Total Liabilities and Shareholders Equity |
| $8,983 |
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