The following data (dollar amounts in millions) are taken from the financial statements of Phase 1 Industries Inc.:
Total liabilities.............................................................................. $11,800
Preferred shares................................................................................... $ 0
Total current assets....................................................................... $10,200
Accumulated depreciation............................................................. $ 1,400
Debt ratio........................................................................................... 59%
Current ratio....................................................................................... 1.50
Requirement
Complete the following condensed balance sheet. Report amounts to the nearest million dollars.
Current assets............................................................................................. $ ?
Property, plant, and equipment................................................ $ ?
Less accumulated depreciation................................................. (?) ........... ?
Total assets................................................................................................. $ ?
Current liabilities....................................................................................... $ ?
Long-term liabilities.................................................................................. ?
Shareholders' equity..................................................................................... ?
Total liabilities and shareholders' equity................................................... $ ?