Question 46 1 pts How do we know this company was profitable ini 2011? U.S. CORPORATION 2011 and 2012 Balance Sheets ($ in millions) Assets Liabilities and Owners' Equity 2011 2012 2011 2012 Current assets Current liabilities Cash $ 104 $ 160 Accounts payable $ 232 $ 266 Accounts receivable 455 688 Notes payable 196 123 Inventory 553 555 Total Current liabilities $ 428 $ 389 Total Current Assets $1,112 $1,403 Fixed assets Net plant and Long-term debt $ 408 $_454 equipment $1,644 $1,709 Total Liabilities 836 843 Owners' equity Common stock 600 640 Retained earnings 1,320 1,629 Total Owners' Equity $1,920 $2,269 Total liabilities and Total assets $2,756 $3,112 owners' equity $2,756 $3,112 Because Cash increased Because Total Owners' Equity increased Because Common Stock increased Because Retained Earnings increasedquity increased