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Balance Sheet - 754 580 Net plant and equipment $1,000 870...

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MicroDrive Inc: December 31 Balance Sheet (Millions of Dollars) Assets 2007 2006 Liabilities and Equity 2007 2006 Cash and equivalents 10 15 Accounts payable 60 30 Short-term investments 0 65 Notes payable 110 60 Accounts receivable 375 315 Accruals 140 130 Inventories 615 415 Total current liablities 310 220 Total current assets $1,000 $810 Long-term bonds
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Unformatted text preview: 754 580 Net plant and equipment $1,000 870 Total debt 1064 800 Preferred stock (400,000 shares) 40 40 Common stock (50,000,000 shares) 130 130 Retained earnings 766 710 Total common equity 896 840 Total assets $2,000 $1,680 Total liabilities and equity $2,000 $1,680...
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