answer the statement #1 and 2 and 3 and answer Based on you understanding of the different....................

Attempts Keep the Highest: 11 2. Balance sheet A 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 Green Caterpillar Garden Supplies Inc. 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. Green Caterpillar Garden Supplies Inc. Balance Sheet for Year Ending December 31 (Millions of Dollars) Year 1 Year 2 Year 1 Assets Liabilities and equity Current liabilities: Current assets: Cash and equivalents$1,384 $1,107 Accounts payable $0 70 399 $0 Accounts receivable Inventor 506 1,485 405 Accruals 1,188 Notes payable 375 $2,700 Total current lablitis$469$375 Total current assets Net fixed assets: Long-term debt 1,406 1,125 Net plant and equipment $4,125 3,300 Total debt $1,875 $%1,500 Common equity Common stock Retained earnings Total common equity $7,500 $6,000 Toal liabilities and eq 3,656 V1,969 $5,625 $7,500 2,925 1,575 $4,500 $6,000 Total assets Given the information in the preceding balance sheet-and assuming that Green Caterpillar Garden Supplies Inc, has 50 million shares of common stock outstanding-read each of the following statements, then identify the selection that best interprets the information conveyed by the balance sheet. Statement #1: Green Caterpillar's net collection of inventory items in between Years 1 and 2 ased by more than the firm sold