Balance Sheet and Other Accounts for GPA Are Listed Below

question 11

Essay

Balance sheet and other accounts for GPA are listed below in alphabetical order. Use these accounts to construct GPA's balance sheet for 2016. 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:

Direct Expense

Costs that can be directly attributed to the production of specific goods or services, such as raw materials and labor.

Electricity

Form of energy resulting from the existence of charged particles, used for power and lighting.

Stove

A heating appliance used for cooking and heating, operating with various fuel sources like gas, electricity, or wood.

Depreciation

The systematic allocation of a tangible asset's cost over its useful life, reflecting wear and use over time.