Below are incomplete balance sheets of XYZ Corporation (figures in millions).

a. Compute the missing amounts, and show the balance sheet at year-end 1, 2, 3, and 4. Show your computations.

b. What transactions might explain the change in total assets between years 1 and 2?

Transcribed Image Text:

Year 2 Year 3Year 4 End-of year for balance sheet items Year 1 Current assets Noncurrent assets Total assets Current liabilitics Current assets- -current liabilities Noncurrent liabilities Paid-in capital Retained earnings Earnings (loss) after tax Dividends Total liabilities and owners' equity 61,404 $29,925$29,964 44,880 $25,305 $72,075 20,19922,92624,861 5,712 5,844 17,997 27,621 3,447 4,197 20,157 23,766 7,572 3,720 76,605 n.a.(1,968)7 n.a. n.a. n.a. 3,351