Finance 311 - HW! Please help! :)

2. Balance sheet Aa Aa The balance sheet provides a snapshot of the financial condition of a company. Investors and analysts use the information given on the balance sheet and other financial statements to make several interpretations regarding the company's financial condition and performance Cold Goose Metal Works Inc. is a hypothetical company. Suppose it has the following balance sheet items reported at the end of its first year of operation. For the second year, some parts are still incomplete. Use the information given to complete the balance sheet. Cold Goose Metal Works Inc. Balance Sheet for Year Ending December 31 (Millions of Dollars) Year 2 Year 1 Year 2 Year 1 Assets Current assets Liabilities and equity Current liabilities: Cash and equivalents Accounts receivable Inventories $6,457 Accounts payable $0 410 2,324 $0 2,953 8,662 $19,687 2,363 6,930 $15,750 Accruals Notes payable 2,187 $2,187 6,563 $8,750 Total current assets Total current liabilities Net fixed assets Long-term debt 8,203 Net plant and equipment $19,250 Total debt $10,937 Common equity: Common stock 21,328 17,063 9,187 $26,250 $35,000 Retained earnings Total common equity $32,813 Total assets $43,750 $35,000 abilities and equity $43,750