Question: Required: Based on the information in the table below, prepare comparative balance sheets for Windswept Woodworks, Incorporated for years 1 and 2. (Round your answers

Required: Based on the information in the table below, prepare comparative balance sheets for Windswept Woodworks, Incorporated for years 1 and 2. (Round your answers to the nearest whole number.) Windswept Woodworks, Incorporated Input Data Accounts payable Accounts receivable Accumulated depreciation Cash & equivalents Common stock Cost of goods sold Depreciation expense Common stock dividends paid Interest expense Inventory Addition to retained earnings Long-term debt Notes payable Gross plant & equipment Retained earnings Sales Other current liabilities Tax rate Market price per share - -year end Number of shares outstanding (millions of dollars) Year 2 Year 1 622 554 1,466 1,000 1,370 1,590 6,932 410 6,802 298 1,290 n.a. ? n.a. ? n.a. 230 n.a. 1,200 1,196 602 n.a. 998 906 320 470 10,620 10,360 3,248 3,108 206 21% $ 27.80 500 million 2,646 n.a. 186 n.a. $ 25.50 500 million Current assets Cash & equivalents Accounts receivable Inventory Total current assets Assets Windswept Woodworks, Incorporated Comparative Balance Sheets for December 31, Year 1 and Year 2 (millions of dollars) Year 2 Year 1 Liabilities Accounts payable Notes payable Other current liabilities Liabilities and Equity Year 2 Year 1 Fixed assets Gross plant & equipment Accumulated depreciation Net plant and equipment Total assets Total current liabilities Long-term debt Total liabilities Owners' equity Common stock Retained earnings Total equity Total liabilities and equity

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