Question: Constructing and Analyzing Balance Sheet Amounts from Incomplete Data Selected balance sheet amounts for 3M Company, a manufacturer of consumer and business products, for three

 Constructing and Analyzing Balance Sheet Amounts from Incomplete Data Selected balance

Constructing and Analyzing Balance Sheet Amounts from Incomplete Data Selected balance sheet amounts for 3M Company, a manufacturer of consumer and business products, for three recent years follow, (a) Compute the missing balance sheet amounts for each of the three years shown Current Long-term Total Stockholders Equity Current Long-term Total Liabilities Liabilities Liabilities (5 millions) Assets Assets Assets 2010 0 530,156 5 0 $8.050 $14,139 $12,215 5 12.240 516,017 15,862 2011 0 5441 10,313 0 19,376 20,246 2012 0 33.876 6.200 9,636 15,836 0 (b) What types of accounts would we expect to be included in current assets? In long-term assets? b. Which of the following would be included amount 3M's current assets? Note: Next to each item, select yes or no to indicate whether the item is a current asset or not. Item Current Asset 1. Cash and cash equivalents 2. Property plant & equipment 3. Inventory 4. Accounts payable e 5. Marketable securities 6. Goodwill 7. Accrued expenses ed 8. Prepaid expenses c. Which of the following would be included among 3M's long-term assets? Note: Next to each item, select yes or no to indicate whether the item is a long-term asset or not. Item Long-term Asset 1. Property plant & equipment 2. Accounts payable 3. Intangible assets 4. Work in process 5. Goodwill e

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