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

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

Windswept Woodworks, Inc.
Input Data
(millions of dollars)
Year 2 Year 1
Accounts payable 522 454
Accounts receivable 1,376 910
Accumulated depreciation 6,842 6,712
Cash & equivalents 310 198
Common stock 1,280 1,200
Cost of goods sold 1,500 n.a.
Depreciation expense ? n.a.
Common stock dividends paid ? n.a.
Interest expense 140 n.a.
Inventory 1,110 1,106
Addition to retained earnings 602 n.a.
Long-term debt 908 816
Notes payable 230 380
Gross plant & equipment 10,260 10,000
Retained earnings 3,158 2,556
Sales 3,018 n.a.
Other current liabilities 116 96
Tax rate 34 % n.a.
Market price per share year end $ 19.80 $ 17.50
Number of shares outstanding 500 million 500 million

Assets Liabilities and Equity
Year 2 Year 1 Year 2 Year 1
Current assets Liabilities
Cash &equivalents $ $ Accounts payable $ $
Accounts receivable $ $ Notes payable $ $
Inventory $ $ Other current liabilities $ $
Total current assets $ $ Total current liabilities $ $
Long-term debt $ $
Fixed assets Total liabilities $ $
Gross plant & equipment $ $
Accumulated depreciation $ $ Owners' equity
Net plant and equipment $ $ Common stock $ $
Retained earnings $ $
Total assets $ $ Total equity $ $
Total liabilities and equity $ $

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