Question

The following balance sheet information (in $ millions) comes from the Annual Report to Shareholders of Merry International Inc. for the 2021 fiscal year. The following additional information from an analysis of Merry's financial position is available:

Current ratio = 1.352397; Acid-test ratio = 0.5771067; Debt to equity ratio = 1.6157180.

Required: Compute the missing amounts in the balance sheet. (Enter your answers in millions of dollars. Round your intermediate and final answers to the nearest whole dollar.)

MERRY INTERNATIONAL INC. Balance Sheet At December 31, 2021 ($ in millions) Assets Current assets Cash and cash equivalents $560 Accounts and notes receivable Inventory Other 560 Total current assets Property and equipment, net $1,472 Intangible assets, net Investments 360 Notes and other receivables, net 1,396 Other assets 1,302 Total long-term assets Total assets Liabilities and Shareholders' Equity Current liabilities Accounts payable $689 Salaries payable 758 Other payables 1,450 Total current liabilities 2,897 Long-term debt Other long-term liabilities 850 Total long-term liabilities Total liabilities Shareholders' equity Common stock 500 Additional paid-in capital 3,776 Retained earnings 3,504 Total shareholders’ equity 7,780 Total liabilities and shareholders’ equity $12,983

Answer 1