Gibraltar,Inc -Refer to the Partial Balance Sheet Presented Above for Gibraltar,Inc

question 81

Essay

Gibraltar,Inc.
A partial balance sheet for the company is provided below.Assume that all of the account balances on the balance sheet are normal balances.
$\begin{array}{|l|l|l|}\hline\text { Gíbraltar, Inc. }\\\hline \text { Patial Balance Sheet (in millions) }\\\hline \text { Assets(in order of liquility): } & \text { Dec. 31, 2013 } & \text { Dec. 31, 2012 } \\ \hline \text { Cash } & \$ 1,780 & \$ 1,649 \\\hline \text { Marketable securities } & 1,000 & 750 \\\hline \text { Accounts receivable } & 2,644 & 2,700 \\\hline \text { Inventories } & 3,010 & 2,950 \\\hline \text { Prepaid rent } & 500 & 500 \\\hline \text { Supplies } & \underline { 494 }& \underline { 76} \\\hline \text { Total Current Assets } & 9,428 & 8 \\\hline\\\hline\text { Liabilities (in order of mag nitude): }\\\hline \text { Longterm debt } & 14,465 & 15,001 \\\hline \text { Other non-current liabilities } & 4,421 & 3,148 \\\hline \text { Long } & 3,5019 & 3,543 \\\hline \text { Accounts payable } & 2,504 & 2,468 \\\hline \text { Other current liabilities } & 2,066 & 1,738 \\\hline \text { Accrued compensation and benefits } & 1,538 & 1,082 \\\hline \text { Short-term borrowing } & 1,200 & 1,126 \\\hline \text { Estimated warranty liability } & 793 & 928 \\\hline \text { Income taxes payable } & 658 & 1,142 \\\hline\end{array}$
-Refer to the partial balance sheet presented above for Gibraltar,Inc.Compute the total current liabilities for December 31,2013,and December 31,2012.

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