Question: 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

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 $15 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 -$31 million. BALANCE SHEET (Millions of dollars) Yr 2 Yr 2 Cash Accounts receivable Inventories 61 | $ 10 140 210 Total current assets$421360 Accounts payable Notes payable Accrued liabilities $ 118 67 62 Total current liabilities $ 247 $100 52 50 $ 202 170 190 Long-term debt 150150 $ 397 352 Total liabilities Preferred stock Common stock $80 Retained earnings 224208 Total common equity 304 258 Total liabilities and equity 701 610 Net fixed assets $280 $250 Total assets $ 701 610
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
