Statement #$1$: Cold Goose$s$ net collection $of$ inventory items increased $by$ more than the firm's sales between Years $1$ and $2.$

This statement $is,$ because:

The accruals balance decreased $by$ $$176$ million between Years $1$ and $2$

Total inventories $of$ raw materials, work$-in-$process, and final goods increased from $$2,970$ million $to$ $$3,712$ million between Year $1$ and Year $2$

Total inventories $of$ raw materials, work$-in-$process, and final goods decreased $by$ $$742$ million between Year $1$ and Year $2$

Statement #$2$: Over the past two years, Cold Goose Metal Works Inc. has relied more $on$ the use $of$ short$-$term debt than $on$ long$-$term debt financing.

This statement $is,$ because:

Cold Goose$s$ total notes payable increased $by$ $$59$ million, while its common stock account increased $by$ $$1,828$ million

Cold Goose$s$ total current liabilities decreased $by$ $$235$ million, while its long$-$term debt account decreased $by$ $$702$ million

Cold Goose$s$ total current liabilities increased $by$ $$235$ million, while its use $of$ long$-$term debt increased $by$ $$702$ million

Statement #$3$: The book value $of$ one $of$ Cold Goose$s$ fixed assets $is$ calculated $as$ the original cost $of$ the asset minus its annual depreciation expense.

This statement $is,$ because:

$An$ asset$s$ net book value $is$ calculated $by$ subtracting its annual depreciation expense from its total historic and installation costs

$An$ asset$s$ net book value $is$ calculated $by$ adding its annual depreciation expense $to$ its total historic and installation costs

$An$ asset$s$ net book value $is$ calculated $by$ subtracting its accumulated depreciation expense from its total historic and installation costs

Based $on$ your understanding $of$ the different items reported $in$ the balance sheet and the information they provide, which statement regarding Cold Goose Metal Works Inc.$s$ balance sheet $is$ consistent with $U.S.$ Generally Accepted Accounting Principles $(GAAP)?$

The company$s$ assets should $be$ listed $in$ alphabetical order.

The company$s$ assets should $be$ listed $in$ the order $in$ which they are $tobe$ converted into cash.

The company$s$ assets should $be$ listed from those carrying the largest balance $to$ those with the smallest balance.