Balance sheet and income statement below. Assets Current assets: Cash and marketable securities Accounts receivable Inventory Total Fixed assets: Gross plant and equipment Less: Accumulated depreciation Net plant and equipment Other long-term assets Total Total assets 2021 **** 86 203 327 $ 616 $1,115 174 $941 162 $1,103 $1,719 CLANCY'S DOG BISCUIT CORPORATION Balance Sheet as of December 31, 2021 and 2020 (in millions of dollars) S 2020 85 195 305 $ 585 $ 910 127 $ 783 162 $ 945 $1,530 Liabilities and Equity Current liabilities: Accrued wages and taxes Accounts payable Notes payable Total Long-term debt Stockholders' equity: Preferred stock (6 thousand shares) Common stock and paid-in surplus (100 thousand shares) Retained earnings Total Total liabilities and equitu S 2021 62 168 145 $ 375 $ 632 $ 6 120 586 $ 712 $ 55 155 145 $ 355 $ 584 2020 $ 6 120 465 $ 591

Balance sheet and income statement below. Assets Current assets: Cash and marketable securities Accounts receivable Inventory Total Fixed assets: Gross plant and equipment Less: Accumulated depreciation Net plant and equipment Other long-term assets Total Total assets 2021 **** 86 203 327 $ 616 $1,115 174 $941 162 $1,103 $1,719 CLANCY'S DOG BISCUIT CORPORATION Balance Sheet as of December 31, 2021 and 2020 (in millions of dollars) S 2020 85 195 305 $ 585 $ 910 127 $ 783 162 $ 945 $1,530 Liabilities and Equity Current liabilities: Accrued wages and taxes Accounts payable Notes payable Total Long-term debt Stockholders' equity: Preferred stock (6 thousand shares) Common stock and paid-in surplus (100 thousand shares) Retained earnings Total Total liabilities and equitu S 2021 62 168 145 $ 375 $ 632 $ 6 120 586 $ 712 $ 55 155 145 $ 355 $ 584 2020 $ 6 120 465 $ 591

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Please help me. Thankyou.