2. Mateo Co. completed its first year of operations with the following account balances at 12/31/22:...

 

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2. Mateo Co. completed its first year of operations with the following account balances at 12/31/22: Accounts receivable Inventory Cash Sales revenue Salary expense Advertising expense Equipment Common stock ($1 par value) Accounts payable Income tax expense Notes payable (short-term) Rent expense APIC Required: 44,000 14,000 30,000 202,000 85,000 8,000 120,000 5,000 16,000 22,000 19,000 14,000 95,000 Prepare a classified balance sheet at December 31, 2022 (use text exhibit 2.9 as a guide). EXHIBIT 2.9 ASSETS Current Assets: Cash Short-term investments Accounts receivable Supplies Prepaid expenses Total current assets. Property and Equipment: Land Buildings Equipment Total cost Accumulated depreciation Net property and equipment Operating lease right-of-use assets Intangible assets Total assets CHIPOTLE MEXICAN GRILL, INC. Consolidated Balance Sheets* (in millions of dollars, except per share data) LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable Unearned revenue Accrued expenses payable: Wages payable Utilities payable Dividends payable Current lease liabilities Total current liabilities Notes payable March 31, 2020 December 31, 2019 $ 357 $ 481 400 81 26 85 1,073 33 13 1,851 862 2,746 1,811 836 2,660 (1,201) (1,201) 1,545 1,459 2,591 2,505 74 69 $5,140 $5,106 $ 116 $ 116 95 95 127 127 156 156 2 179 173 675 667 80 77 2,789 2,678 3.544 3,422 Long-term lease liabilities Total liabilities Stockholders' Equity: Common stock ($0.01 par value per share) 2 Additional paid-in capital 1,482 1,466 Treasury stock (2,802) (2,699) Retained earnings 2,914 2,916 Total stockholders' equity 1,596 1,684 Total liabilities and stockholders' equity $5,140 $5,106 *Reflects simplified December 31, 2019, figures and hypothetical March 31, 2020, information. 2. Mateo Co. completed its first year of operations with the following account balances at 12/31/22: Accounts receivable Inventory Cash Sales revenue Salary expense Advertising expense Equipment Common stock ($1 par value) Accounts payable Income tax expense Notes payable (short-term) Rent expense APIC Required: 44,000 14,000 30,000 202,000 85,000 8,000 120,000 5,000 16,000 22,000 19,000 14,000 95,000 Prepare a classified balance sheet at December 31, 2022 (use text exhibit 2.9 as a guide). EXHIBIT 2.9 ASSETS Current Assets: Cash Short-term investments Accounts receivable Supplies Prepaid expenses Total current assets. Property and Equipment: Land Buildings Equipment Total cost Accumulated depreciation Net property and equipment Operating lease right-of-use assets Intangible assets Total assets CHIPOTLE MEXICAN GRILL, INC. Consolidated Balance Sheets* (in millions of dollars, except per share data) LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable Unearned revenue Accrued expenses payable: Wages payable Utilities payable Dividends payable Current lease liabilities Total current liabilities Notes payable March 31, 2020 December 31, 2019 $ 357 $ 481 400 81 26 85 1,073 33 13 1,851 862 2,746 1,811 836 2,660 (1,201) (1,201) 1,545 1,459 2,591 2,505 74 69 $5,140 $5,106 $ 116 $ 116 95 95 127 127 156 156 2 179 173 675 667 80 77 2,789 2,678 3.544 3,422 Long-term lease liabilities Total liabilities Stockholders' Equity: Common stock ($0.01 par value per share) 2 Additional paid-in capital 1,482 1,466 Treasury stock (2,802) (2,699) Retained earnings 2,914 2,916 Total stockholders' equity 1,596 1,684 Total liabilities and stockholders' equity $5,140 $5,106 *Reflects simplified December 31, 2019, figures and hypothetical March 31, 2020, information.