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Constructing and Analyzing Balance Sheet Amounts from Incomplete Data Selected balance sheet amounts for 3M Company,...

Constructing and Analyzing Balance Sheet Amounts from Incomplete Data Selected balance sheet amounts for 3M Company, a manufacturer of consumer and business products, for three recent years follow. $ millions Current Assets Long-Term Assets Total Assets Current Liabilities Long-Term Liabilities Total Liabilities Stockholders’ Equity* 2013 $12,733 $ $33,550 $ ? $ 8,104 $15,602 $17,948 2014 12,303 18,906 ? 5,964 12,103 ? 13,142 2015 ? 21,732 32,718 7,118 13,853 20,971 ? a. Compute the missing balance sheet amounts for each of the three years shown. b. What types of accounts would we expect to be included in current assets? In long-term assets?

Account Category
Accounts payable AnswerCurrent asset,Long-term asset,Neither
Accounts receivable AnswerCurrent asset,Long-term asset,Neither
Accrued expenses AnswerCurrent asset,Long-term asset,Neither
Cash AnswerCurrent asset,Long-term asset,Neither
Common stock AnswerCurrent asset,Long-term asset,Neither
Goodwill AnswerCurrent asset,Long-term asset,Neither
Inventories AnswerCurrent asset,Long-term asset,Neither
Prepaid expenses AnswerCurrent asset,Long-term asset,Neither
Property, plant and equipment AnswerCurrent asset,Long-term asset,Neither
Retained earnings AnswerCurrent asset,Long-term asset,Neither
Trademark AnswerCurrent asset,Long-term asset,Neither
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