Fill in the amounts (numbers) for each asset, liability, and equity category. Be sure to enter commas as needed in the numbers. For each entry labeled "total," you will need to do the math (addition) to determine the amount to enter in the field. To determine Net fixed assets, add the amount of Property, plant & equipment to the negative value of Accumulated depreciation. Total assets should equal Total liabilities and equity for each year. Be sure to fill in each field on the Balance Sheet table. Revenues: Year 1: $40,000,000 Year 2: $44,000,000 Asset, Liability, and Equity Amounts to fill in the Balance Sheet: Accounts receivable will be equal to 10% of revenue in both years Inventory will be equal to 20% of revenue in both years Property, plant, & equipment equals $4,000,000 in both years Accounts payable will be equal to 8% of revenues in both years Other current liabilities will be $3,000,000 in year 1 and will grow 10% in year 2 Short-term debt will be $2,000,000 in both years Long-term debt will be $4,000,000 in year 1 and will be paid down by $500,000 in year 2 Common stock will be $200,000 in both years

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To fill in the Balance Sheet table based on the provided information lets calculate the amounts for each asset liability and equity category for both ... View the full answer