c Back to Assigmment Attempts Keep the Highest: /11 2 Balance sheet 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 finandal statements to make several inberpretations regarding the company's financial condition and Fuzzy Button Clathing Company is a hypothetical company, Suppose it has the following balance sheet items report Its first year of operation. For the second year, some parts are still incomplebe Use the Information given to compl the end of balance Fuzzy Button Clothing Company Balance Sheet for Year Ending December 31 (Militions of Dollars) Year 2 Year 1 Year 2Year 1 Liabilities and equity Current fabilities Current assets [ $0 352 1,992 SSSS Amounts payatle so Cash and equlvalents Accounts recelvable 2,531 7A255,940Notes payable 2,025Accruas 1,875 1,875 Total current assets 16,875$13,500 Total current Sabilities 5,625 9,375$7,500 Net fixed assets: Long-term debt 7,031 Net plant and equipment$16,500 Total debt Comonequity Common stock Retained eamings Tetal coemon equity 18,28114,625 7,875 $28,125 $22,500 37,500$30,000 37,50030,000 otal abilites and equty Total assets Given the information in the preceding balance sheet and ssming that Fuzzy Button Clothing Compeny has 50 million shares of common stock outstanding-read each of the folewing statements, then dentity the selection that best interprets the infarmation conveyed by the balance sheet 0 Type here to search a e