2. Balance sheet Aa Aa The balance sheet provides a snapshot of the financial condition of a company. Investors and analysts use the information given on the balance sheet and other financial statements to make several interpretations regarding the company's financial condition and performance Cute Camel Woodcraft Company is a hypothetical company. Suppose it has the following balance sheet items reported at the end of its first year of operation. For the second year, some parts are still incomplete. Use the information given to complete the balance sheet Cute Camel Woodcraft Company Balance Sheet for Year Ending December 31 (Millions of Dollars) Year 2 Year 1 Year 2 Year 1 Assets Liabilities and equity Current assets: Current liabilities: Cash and equivalents Accounts receivable Inventories $2,029 Accounts payable 928 2,722 $6,187 743 Accruals 129 687 $687 2,063 $2,750 2,178Notes payable 730 Total current assets $4,950Total current liabilities Net fixed assets: Long-term debt 2,578 $3,437 Net plant and equipment $6,050 Total debt Common equity: Common stock 5,363 2,887 $8,250 $11,000 6,703 Retained earnings Total common equity Total liabilities and equity $10,313 $13,750 Total assets $13,750 $11,000