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The balance sheet provides a snapshot of the financial condition of a company. Investors and analysts use the information given on the balance sheet and other financial statements to make several interpretations regarding the company's financial condition and performance. Green Caterpillar Garden Supplies Inc. is a hypothetical company. Suppose it has the following balance sheet items reported at the end of its first year of operation. For the second year, some parts are still incomplete. Use the information given to complete the balance sheet. SO Green Caterpillar Garden Supplies Inc.Balance Sheet for Year Ending December 31 (Millions of dollars) Year 2 Year 1 Year 2 Year 1 Assets Liabilities and equity Current assets Current liabilities: Cash and equivalents $6,457 Accounts payable $0 Accounts receivable 2.953 2,360 Accruals 410 0 Inventories 5.552 6.930 Notes payable 2,324 2.187 Total current assets 519,687 $15,750 Total current liabilities $2.187 Net fixed assets Long-term dirbt 8,200 6,563 Net plant and equipment 519,250 Total de $10,937 58.750 Common equity Common stock 21.328 17.063 Retained earnings 9.187 Total common squity $32.810 520.250 Total assets 543,750 335,000 Total liabilities and equity $40,750 $35.000 Grethe information the precedence sheet-and issuing that Green Caterpillar Garden Supplies in 50 million shares of comme stock out the following statement, the identify the selection that best internets the information covered by the balance Statement #1 Green Caterpillar's accumulated owed financial obligations decreased from Year 1 to Year 2 This statement is because: The accounts payable account remained so for both Years 1 and 2 Long-term debt decreased from $2,324 million at the end of Year 1 to $2,187 million by the end of Year 2 Accruais actually increased from so in Year 1 to $410 million at the end of Year 2 Statement #2: On December 31 of Year 2 Green Caterpillar Garden Supplies ine had 8,072 million of actual money that it could have spent immediately This statements because Green Cater's ar 2 cash and events balance is $20,317 The funds recorded in Green Caterscounts recevable con represents funds that are the cost or can be converted into cash Trefund recorded Greentecostantes de tech cash almost immediately Statement #3: If Green Caterpillar ever goes bankrupt, its common stockholders will be paid off first, then its debtholders and preferred stockholders. This statement is because: Debtholders are treated as residual investors Common shareholders are treated as residual investors Debtholders and preferred shareholders are considered residual investors Based on your understanding of the different items reported on the balance sheet and the information they provide, if everything else remains the same, then the cash and equivalents item on the current balance sheet is likely to of the firm us $3 millions of new common stock