Balance Sheet and Other Accounts for GPA Are Listed Below

question 45

Essay

Balance sheet and other accounts for GPA are listed below in alphabetical order.Use these accounts to construct GPA's balance sheet for 2013.All balance sheet accounts are shown,but some accounts will not be used.All amounts are in millions of dollars.
Accounts payable $1900
Accounts receivable $661
Cash $1,000
Common stock $2,000
EBIT $1,968
Interest expense $8.00
Inventories $1,620
Long-term debt $890
Net plant & equipment $2,563
Other current assets $645
Other long-term assets $576
Retained earnings $2,080
Short-term debt $195
Taxes $778

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Definitions:

Equilibrium Price

The price at which the quantity of a good demanded by consumers balances the quantity supplied by producers, resulting in a stable market condition.

Suppliers

Businesses or individuals that provide goods or services to another entity, often in exchange for monetary compensation.

Surpluses

Occurs when the quantity supplied of a product exceeds the quantity demanded, often leading to a drop in prices.

Price Up

An increase in the cost of goods or services in the market.