This question is the first of a four-part question that uses the same financial statement information. This question is part A and the next three questions comprise parts B, C and D, respectively. The financial statements are reproduced in parts B and C for ease of reference. Answ Answer the underlined question at the bottom based on the following statements presented for Melvin Company. The Assets Cash Marketable securities, Trade accounts receivable, less allowances of 36 in 2018 and 18 in 2017 Inventories, FIFO Prepaid expenses Total current assets Investments Property, plant, and equipment: Land Buildings and improvements Machinery and equipment Less allowances for depreciation Goodwill Total assets Balance Sheet December 31, 2018, and 2017 Liabilities and Shareholders' Equity. Accounts payable CMLTD Notes Payable Accrued payroll Accrued taxes Total current liabilities Long-term debt Deferred income taxes Total liabilities Shareholders' equity: Common stock Retained earnings $ 2018 625 260 1,080 930 230 $