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Required information The following information applies to the questions displayed below) The following accounts are taken from the financial statements of Facebook Inc. at September 30, 2016. (Amounts are in millions.) Accounts Payable Accounts Receivable Cash Common Stock Equipment Income Tax Expenne Interest Expense Notes Payable (long-term) Prepaid Rent Retained Earnings Service Revenue Short-Term Investments Software $ 1.770 470 3,950 13,800 3,850 470 220 1,750 1.950 4.300 13,800 0,000 3,400 Required: 1. Prepare a classified balance sheet at September 30, 2016. (Enter your answers in millions (.e., 10,000,000 should be entered as 10).) Required: 1. Prepare a classified balance sheet at September 30, 2016. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) FACEBOOK, INC. Balance Sheet At September 30, 2016 (in millions) Llabilities Current Liabilities Accounts Payable Notes Payable (long-term) Assets Current Assets Cash Accounts Receivable Prepaid Rent Short-term investments 0 Total Current Assets Equipment Software 0 0 0 Total Assets $ 0 $ 0 3-a. Determine the current ratio. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Current Ratio Numerator Denominator 3-b. Were the current assets sufficient to cover the current liabilities at September 30, 2016? Yes No

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