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The following information, based on the 12/31/2021 Annual Report to Shareholders of Krafty Foods ($ in millions): Accounts payable 2,597 Accounts receivable (net) 3,831 Accrued
The following information, based on the 12/31/2021 Annual Report to Shareholders of Krafty Foods ($ in millions):
Accounts payable | 2,597 | ||
Accounts receivable (net) | 3,831 | ||
Accrued liabilities | 4,805 | ||
Cash and cash equivalents | 232 | ||
Cost of goods sold | 18,231 | ||
Other current payables | 2,352 | ||
Current portion of long-term debt | 610 | ||
Other long-term liabilities | 11,011 | ||
Retained earnings as of 12/31/2021 | 3,091 | ||
Goodwill and other intangible assets (net) | 38,057 | ||
Salaries expense | 2,265 | ||
Interest and other debt expense, net | 2,137 | ||
Inventories | 3,726 | ||
Long-term debt | 8,834 | ||
Long-term notes payable | 5,700 | ||
Marketing, general and administration expenses | 12,160 | ||
Operating revenues | 37,375 | ||
Other current assets | 757 | ||
Other noncurrent assets | 4,426 | ||
Other shareholders equity | (3,268 | ) | |
Common stock | 24,355 | ||
Property, plant and equipment (net) | 9,809 | ||
Short-term borrowings | 751 | ||
Required: Based on the information presented above, prepare the 12/31/2021 Balance Sheet for Krafty Foods. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Amounts to be deducted should be indicated by a minus sign.)
KRAFTY FOODS Balance Sheet At December 31, 2021 ($ in millions) Assets Total assets 0 Liabilities and Shareholders' Equity 0 Total liabilities 0 0 Total shareholders' equity Total liabilities and shareholders' equity 0
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