Preparing a Classified Balance Sheet Campbell Soup Company is the world’s leading maker and marketer of soup and sells other well-known brands of food in 120 countries. Presented here are the items listed on its recent balance sheet (dollars in millions) presented in alphabetical order:
|
Accounts payable |
$569 |
Other assets |
$105 |
|
Accounts receivable |
528 |
Other current assets |
148 |
|
Accrued expenses |
579 |
Other current debt |
480 |
|
Cash and cash equivalents |
51 |
Other noncurrent liabilities |
3,700 |
|
Common stock, $0.0375 par value |
352 |
Property, plant, and equipment, net |
1,977 |
|
Intangible assets |
2,423 |
Retained earnings |
376 |
|
Inventories |
824 |
Required:
Prepare a classified consolidated balance sheet for Campbell Soup for the current year (ended August 2) using the categories presented in the chapter.