Complete the following statement: Depreciation represents the loss in a fixed asset's value due to aging. Depreciation expense appears on the income statement and represents the reduction in fixed assets' values over the previous accounting period. Accumulated depreciation appears on the balance sheet and represents the cumulative value reduction in the firm's present fixed asset holdings since their acquisition. Complete the missing balance sheet entries for Travers & Co.'s balance sheets for the years ending 2004 and 2005 based on the following statements: Travers issued $10 million of new common stock. Travers had net income available to common shareholders of $77 million during 2005. At the end of 2005, Travers paid out $61 million in common dividends. Travers neither issued nor retired long-term debt during 2005. In 2005, Travers had cash flows from operating activities of $147 million, cash flow from investing activities of -$80 million, and cash flow from financing activities of -$36 million. BALANCE SHEET (Millions of dollars) Yr 2 Yr 1 Yr 2 Cash A $ 10 Accounts payable $ 118 Accounts receivable 170 140 Notes payable 67 Inventories 190 210 Accrued liabilities 62 Total current assets B $ 360 Total current liabilities $247 Long-term debt Total liabilities D Preferred stock Common stock E Retained earnings F 1 100 52 50 $ 202 150 $ 352 50 208 Net fixed assets $ 280 $ 250 Total common equity G $ 258 Total assets H $ 610 Total liabilities and equity I $ 610