The document details the preparation of a classified balance sheet for Windsor, Inc. as of December 31, 2017, listing various assets, liabilities, and stockholder's equity totals. The total assets amount to $13,920 million, with current assets at $5,060 million and total liabilities at $1,280 million. Stockholder's equity is reported at $12,640 million.

1. Problem 2-1A Suppose the following items are taken from the 2017 balance sheet of Windsor,
Inc. (All dollars are in millions.) Goodwill Common stock Equipment Accounts payable Patents
Stock investments (long-term) Accounts receivable Prepaid rent Debt investments (short-term)
Retained earnings Cash Notes payable (long-term) Unearned sales revenue Accumulated
depreciation-equipment $4,060 6,060 1,560 150 210 3,230 1,200 230 1,300 6,580 2,330 720 410
200 Prepare a classified balance sheet for Windsor, Inc. as of December 31, 2017. (List current
assets in order of liquidity.)
Solution
Balance sheet :AssetsCurrent assetsCash2330Account receivable1200Prepaid rent230Debt
investment (short term)1300Total current assets5060Long term investmentStock investment
(long term)3230Property,plant and equipmentEquipment1560Less: Accumlated depreciation-
2001360Other assetsGoodwill4060Patents2104270Total Assets13920Liabilities &
Stockholder's equityCurrent liabilitiesAccount payable150Unearned sales revenue410Total
current liabilities560Long term liabilitiesNotes payable720Total liabilities1280Stockholder's
equityCommon Stock6060Retained earnings6580Total Stockholder's equity12640Total
liabilities & Stockholder's equity13920