Question: Based on the information in the table below, prepare comparative balance sheets for Windswept Woodworks, Incorporated for years 1 and 2. (Round your answers to

Based on the information in the table below, prepare comparative balance sheets for Windswept Woodworks, Incorporated for years 1 and 2. (Round your answers to the nearest whole number.)

Windswept Woodworks, Incorporated
Input Data
(millions of dollars)
Year 2 Year 1
Accounts payable 622 554
Accounts receivable 1,466 1,000
Accumulated depreciation 6,932 6,802
Cash & equivalents 410 298
Common stock 1,370 1,290
Cost of goods sold 1,590 n.a.
Depreciation expense ? n.a.
Common stock dividends paid ? n.a.
Interest expense 230 n.a.
Inventory 1,200 1,196
Addition to retained earnings 602 n.a.
Long-term debt 998 906
Notes payable 320 470
Gross plant & equipment 10,620 10,360
Retained earnings 3,248 2,646
Sales 3,108 n.a.
Other current liabilities 206 186
Tax rate 21% n.a.
Market price per share year end $ 27.80 $ 25.50
Number of shares outstanding 500 million 500 million

Based on the information in the table below, prepare comparative balance sheets

Required: Based on the information in the table below, prepare comparative balance sheets for Windswept Woodworks, Incorporated for years 1 and 2. (Round your answers to the nearest whole number.)

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