Compaq Computer Corporation began as the first manufacturer of portable computers compatible with the MS-DOS operating system. These sewing machine-size computers found their most important market niche with independent CPAs for whom portability was a must. Today, Compaq is one of the leading manufacturers of computers compatible with the Windows operating systems. Compaq sells a wide variety of desktop, portable, and home computers, as well as powerful servers that run business networks. Presented here are the items listed on its recent balance sheet (in millions) presented in alphabetical order:

Required:
Prepare a classified consolidated balance sheet for Compaq for the current year (ended December 3 1 )
using the categories presented in the chapter.

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Accounts payable Accounts receivable, net Cash and cash equivalents Common stock and capital in excess of par value Deferred income taxes (noncurrent) Income taxes payable Inventories Other current liabilities Other noncurrent assets Prepaid expenses Property, plant, and equipment, less accumulated depreciation Retained earnings $ 637 1.377 627 586 186 credit 69 1.123 538 14 164 779 2.068