The following balance sheet information (in $ millions) comesfrom the Annual Report to Shareholders...

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Accounting

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

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

Required: Compute the missing amounts in the balance sheet.(Enter your answers in millions of dollars. Round your intermediateand 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
Other560
Total current assets
Property and equipment, net$1,472
Intangible assets, net
Investments360
Notes and other receivables, net1,396
Other assets1,302
Total long-term assets
Total assets
Liabilities and Shareholders'Equity
Current liabilities
Accounts payable$689
Salaries payable758
Other payables1,450
Total current liabilities2,897
Long-term debt
Other long-term liabilities850
Total long-term liabilities
Total liabilities
Shareholders' equity
Common stock500
Additional paid-in capital3,776
Retained earnings3,504
Total shareholders’ equity7,780
Total liabilities and shareholders’equity$12,983

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In: AccountingThe following balance sheet information (in $ millions) comesfrom the Annual Report to Shareholders of...The following balance sheet information (in $ millions) comesfrom the Annual Report to Shareholders of Merry International Inc.for the 2021 fiscal year. The following additional information froman analysis of Merry's financial position is available:Current ratio = 1.352397; Acid-test ratio = 0.5771067; Debt toequity ratio = 1.6157180.Required: Compute the missing amounts in the balance sheet.(Enter your answers in millions of dollars. Round your intermediateand final answers to the nearest whole dollar.)MERRY INTERNATIONAL INC.Balance SheetAt December 31, 2021($ in millions)AssetsCurrent assetsCash and cash equivalents$560Accounts and notes receivableInventoryOther560Total current assetsProperty and equipment, net$1,472Intangible assets, netInvestments360Notes and other receivables, net1,396Other assets1,302Total long-term assetsTotal assetsLiabilities and Shareholders'EquityCurrent liabilitiesAccounts payable$689Salaries payable758Other payables1,450Total current liabilities2,897Long-term debtOther long-term liabilities850Total long-term liabilitiesTotal liabilitiesShareholders' equityCommon stock500Additional paid-in capital3,776Retained earnings3,504Total shareholders’ equity7,780Total liabilities and shareholders’equity$12,983

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