Question

Suppose the following items were taken from the 2022 financial statements of Texas Instruments, Inc. (All dollars are in millions.)

Common stock		$2,990		Accumulated depreciation—equipment		$4,380
Prepaid rent		160		Accounts payable		1,090
Equipment		6,220		Patents		2,220
Stock investments (long-term)		690		Notes payable (long-term)		970
Debt investments (short-term)		1,950		Retained earnings		6,100
Income taxes payable		170		Accounts receivable		1,870
Cash		1,340		Inventory		1,250

Prepare a classified balance sheet in good form as of December 31, 2022. (List Current Assets in order of liquidity.)

TEXAS INSTRUMENTS, INC. Balance Sheet choose the accounting period For the Month Ended December 31, 2022December 31, 2022For the Year Ended December 31, 2022 (in millions)
Assets
select an opening name for subsection one Current AssetsCurrent LiabilitiesIntangible AssetsLong-Term InvestmentsLong-Term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current LiabilitiesTotal Liabilities and Stockholders' EquityTotal Stockholders' EquityTotal Current AssetsTotal Liabilities
enter a balance sheet item			$enter a dollar amount
enter a balance sheet item			enter a dollar amount
enter a balance sheet item			enter a dollar amount
enter a balance sheet item			enter a dollar amount
enter a balance sheet item			enter a dollar amount
select a closing name for subsection one     Current Assets    Current Liabilities    Intangible Assets    Long-Term Investments    Long-Term Liabilities    Property, Plant and Equipment    Stockholders' Equity    Total Assets    Total Current Liabilities    Total Liabilities and Stockholders' Equity    Total Stockholders' Equity    Total Current Assets    Total Liabilities					$enter a total amount for subsection one
select an opening name for subsection two Current AssetsCurrent LiabilitiesIntangible AssetsLong-Term InvestmentsLong-Term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current LiabilitiesTotal Liabilities and Stockholders' EquityTotal Stockholders' EquityTotal Current AssetsTotal Liabilities
enter a balance sheet item					enter a dollar amount
select an opening name for subsection three Current AssetsCurrent LiabilitiesIntangible AssetsLong-Term InvestmentsLong-Term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current LiabilitiesTotal Liabilities and Stockholders' EquityTotal Stockholders' EquityTotal Current AssetsTotal Liabilities
enter a balance sheet item			enter a dollar amount
select between addition and deduction     Add    Less     :enter a balance sheet item			enter a dollar amount		enter a subtotal of the two previous amounts
select an opening name for subsection four Current AssetsCurrent LiabilitiesIntangible AssetsLong-Term InvestmentsLong-Term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current LiabilitiesTotal Liabilities and Stockholders' EquityTotal Stockholders' EquityTotal Current AssetsTotal Liabilities
enter a balance sheet item					enter a dollar amount
select a closing section name for this part of the balance sheet Current AssetsCurrent LiabilitiesIntangible AssetsLong-Term InvestmentsLong-Term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current LiabilitiesTotal Liabilities and Stockholders' EquityTotal Stockholders' EquityTotal Current AssetsTotal Liabilities					$enter a total amount for this part of the balance sheet
Liabilities and Stockholders' Equity
select an opening name for subsection one Current AssetsCurrent LiabilitiesIntangible AssetsLong-Term InvestmentsLong-Term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current LiabilitiesTotal Liabilities and Stockholders' EquityTotal Stockholders' EquityTotal Current AssetsTotal Liabilities
enter a balance sheet item			$enter a dollar amount
enter a balance sheet item			enter a dollar amount
select a closing name for subsection one     Current Assets    Current Liabilities    Intangible Assets    Long-Term Investments    Long-Term Liabilities    Property, Plant and Equipment    Stockholders' Equity    Total Assets    Total Current Liabilities    Total Liabilities and Stockholders' Equity    Total Stockholders' Equity    Total Current Assets    Total Liabilities					$enter a total amount for subsection one of the second part of the balance sheet
select an opening name for subsection two Current AssetsCurrent LiabilitiesIntangible AssetsLong-Term InvestmentsLong-Term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current LiabilitiesTotal Liabilities and Stockholders' EquityTotal Stockholders' EquityTotal Current AssetsTotal Liabilities
select a balance sheet item					enter a dollar amount
select a closing name for section one Current AssetsCurrent LiabilitiesIntangible AssetsLong-Term InvestmentsLong-Term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current LiabilitiesTotal Liabilities and Stockholders' EquityTotal Stockholders' EquityTotal Current AssetsTotal Liabilities					enter a total amount for this section of the balance sheet
select an opening name for section two Current AssetsCurrent LiabilitiesIntangible AssetsLong-Term InvestmentsLong-Term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current LiabilitiesTotal Liabilities and Stockholders' EquityTotal Stockholders' EquityTotal Current AssetsTotal Liabilities
enter a balance sheet item			enter a dollar amount
enter a balance sheet item			enter a dollar amount
select a closing name for section two     Current Assets    Current Liabilities    Intangible Assets    Long-Term Investments    Long-Term Liabilities    Property, Plant and Equipment    Stockholders' Equity    Total Assets    Total Current Liabilities    Total Liabilities and Stockholders' Equity    Total Stockholders' Equity    Total Current Assets    Total Liabilities					enter a total of the two previous amounts
select a closing name for this part of the balance sheet Current AssetsCurrent LiabilitiesIntangible AssetsLong-Term InvestmentsLong-Term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current LiabilitiesTotal Liabilities and Stockholders' EquityTotal Stockholders' EquityTotal Current AssetsTotal Liabilities					$enter a total amount for this part of the balance sheet

Answer 1

TEXAS INSTRUMENTS, INC. Balance Sheet For the Year Ended December 31,2022 (in millions)
Assets
Current Assets:
Prepaid rent	$ 160
Debt investments (short-term)	$ 1,950
Cash	$ 1,340
Accounts receivable	$ 1,870
Inventory	$ 1,250
Total Current Assets		$ 6,570
Investments:
Stock investments (long-term)		$ 690
Property,plant,and equipment:
Equipment	$ 6,220
Less: Accumulated depreciation	($ 4,380)	$ 1,840
Intangible assets:
Patents		$ 2,220
Total Assets		$ 11,320
Liabilities and stockholders' Equity
Current liabilities:
Accounts payable	$ 1,090
Income taxes payable	$ 170
Total Current liabilities		$ 1,260
Long-term Debt:
Notes payable (long-term)		$ 970
Total liabilities		$ 2,230
Stockholders' Equity:
Common stock	$ 2,990
Retained earnings	$ 6,100
Total Stockholder's Equity		$ 9,090
Total liabilities and stockholders' equity		$ 11,320