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[The following information applies to the questions displayed below.] The following accounts are taken from the financial statements of Facebook Inc. at September 30,
[The following information applies to the questions displayed below.] The following accounts are taken from the financial statements of Facebook Inc. at September 30, 2016. (Amounts are in millions.) Accounts Payable Accounts Receivable Cash $ 2,600 3,100 6,000 Common Stock 15,700 Equipment 7,900 Income Tax Expense 790 Interest Expense 50 Notes Payable (long-term) 3,000 Prepaid Rent 1,100 Retained Earnings 38,400 Service Revenue 7,000 Short-Term Investments 20,100 Software 21,500 Required: 1. Prepare a classified balance sheet at September 30, 2016. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Accounts Receivable Cash FACEBOOK, INC. Balance Sheet (in millions) Assets Accounts Payable Liabilities Prepaid Rent Notes Receivable (short-term) $ 0 Total Current Liabilities Notes Payable (long-term) Total Liabilities Common Stock Retained Earnings 0 Total Stockholders' Equity $ 0 0
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