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 $20 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 - $26 million. BALANCE SHEET (Millions of dollars) 170 140 Cash Accounts receivable Inventories Total current assets 210 B $ 360 Accounts payable Notes payable Accrued liabilities Total current liabilities Long-term debt Total liabilities Preferred stock Common stock Retained earnings Total common equity Total liabilities and equity Net fixed assets Total assets $ 280 H $ 250 $ 610 610
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