The following data, in no particular order, are from the accounts of Brown Corp. as of December 31, its annual year-end. All amounts are accurate, all accounts have normal balances and total debits equal total credits, and all amounts are in $millions. Description Amount Description Amount Accounts payable (trade) $32 Deferred revenue $8 Debt retirement fund (long-term) 16 Cash dividends payable 20 Accounts receivable 68 Inventory 120 Income taxes payable 16 Land held for future business site 72 Short-term investments, marketable securities Equipment and furniture 280 (cost approximate fair value) 40 Net income 140 Bonds payable (long-term) 204 Cash dividends declared 12 Accumulated depreciation, equipment and furniture 24 Prepaid expenses (short-term) 4 Common stock, par $1 (500,000 shares authorized) 280 Patent 16 Cash 80 Prepaid rent (long-term) 8 Retained earnings, December 31, prior year 68 Investment in stock of Zinc Inc. (long-term) 104 Allowance for doubtful accounts 8 Paid-in capital in excess of parCommon 20