Presented Below Are Selected Data from the Balance Sheet of Farmer

question 77

Essay

Presented below are selected data from the balance sheet of Farmer Company for 2017.The figures are expressed in millions.
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$$\begin{array} { l r } \text { Total current assets } & \$ 5,572 \\\text { Property, plant, and equipment } & 16,325 \\\text { Other assets } & ? \\\text { Total current liabilities } & 3,274 \\\text { Total long-term debt } & 5,632 \\\text { Total stockholders' equity } & 19,639\end{array}$$ A) Determine the amount of "Other assets" for Farmer's 2017 bal ance sheet. (HINT: You must use the accounting equation concept to determine your answer.)

B) How much of Farmer Company is financed by creditors? How much is financed by the owners?

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Definitions:

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