. Balance sheet Aa Aa The balance sheet provides a snapshot of the financial condition of a company. Investors and analysts use the information given 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 its first year of operation. For the second year, some parts are still incomplete. Use the informati sheet. on given to complete the balance 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 liabilities: Current assets: $184 Accounts payable Cash and equivalents Accounts receivable Inventories s0 12 $0 84 247 $562 68 Accruals 198 Notes payable 62 $62 188 $250 Total current assets $450 Total current liabilities Long-term debt Common equity: Net fixed assets: 234 Net plant and equipment $550 Total debt $312 610 488 262 $750 $1,000 Common stock Retained earnings $938 Total common equity Total liabilities and equity Total assets $1,250 $1,000 $1,250