Mills Geothermal Ltd. installs environmental heating/cooling systems. The company's 2014 revenues totalled $360 million, and at December 31, 2014, the company had $65 million in current assets. The December 31, 2014, balance sheet reported the liabilities and shareholders' equity as follows:

Requirements
1. Describe each of Mills Geothermal Ltd.'s liabilities, and state how the liability arose.
2. What were the company's total assets at December 31, 2014? Was the company's debt ratio at the end of 2014 high, low, or in a middle range?

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At Year-End (in millions) 2014 2013 Liabilities and shareholders' equity Current liabilities Accounts payable Accrued expenses Employee compensation and benefits Current portion of long-term debt $ 29 $ 26 9 l current liabilities 57 115 27 17 Tota Long-term debt Post-retirement benefits payable Other liabilit Shareholders' equity Total liabilities and shareholders' equity 59 115 31 21 73 $299