Question
The following balance sheet information (in $ millions) comes from the Annual Report to Shareholders of Hotel California for the 2013 fiscal year. (Certain amounts
The following balance sheet information (in $ millions) comes from the Annual Report to Shareholders of Hotel California for the 2013 fiscal year. (Certain amounts have been replaced with question marks to test your understanding of balance sheets.) In addition, youre provided with the follow- ing information from an analysis of Hotel Californias financial position at the same date:
Current ratio = 1.440584
Acid-test ratio = 0.489143
Debt-to-equity ratio = 3.040706
Compute the missing amounts (rounded to the nearest $ in millions) in the Hotel California balance sheet.
Assets
Cash and equivalents $565
Accounts and notes receivable ? Inventory ?
Other 175
Total current assets ?
Property and equipment, net $1,443
Intangible assets, net ? Investments 596
Notes and other receivables, net 988
Other 973
Total non-current asssets ? Total assets 8,934
Liabilities and Shareholders Equity
Current liabilities
Accounts payable |
| $854 |
Accrued payroll and benefits |
| ? |
Other payables and accruals |
| 996 |
Total current liabilities |
| 2533 |
Long-term debt | ? |
|
Other long-term liabilities | 1,915 |
|
Total long-term liabilities ? | ||
Total liabilities |
| ? |
Shareholders equity |
|
|
Common stock | 1,136 |
|
Additional paid-in capital | 3,490 |
|
Retained earnings | 3,265 |
|
Treasury stock and other | (-5,680) |
|
Total shareholders equity Total liabilities and shareholders equity |
| 2,211 $? |
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