Computing Retained Earnings and Preparing a Classified Balance Sheet The following data, in no particular order, are from the accounts of Brown Corp. as of December 31, its annual year-end. All amounts are accurate, all accounts have normal balances and total debits equal total credits, and all amounts are in $millions.

Description	Amount	Description	Amount
Accounts payable (trade)	$72	Deferred revenue	$18
Debt retirement fund (long-term)	36	Cash dividends payable	45
Accounts receivable	153	Inventory	270
Income taxes payable	36	Land held for future business site	162
Short-term investments, marketable securities		Equipment and furniture	630
(cost approximate fair value)	90	Net income	315
Bonds payable (long-term)	459	Cash dividends declared	27
Accumulated depreciation, equipment and furniture	54	Prepaid expenses (short-term)	9
Common stock, par $1 (800,000 shares authorized)	630	Patent	36
Cash	180	Prepaid rent (long-term)	18
Retained earnings, December 31, prior year	153	Investment in stock of Zinc Inc. (long-term)	234
Allowance for doubtful accounts	18	Paid-in capital in excess of parCommon	45

a. Compute the year-end balance of retained earnings.

$ million

b. Prepare a classified balance sheet as of December 31. Note: Do not use negative signs with any of your answers.

c. Compute working capital on December 31.

$ million