Question

Exercise 2-07 Your answer is partially correct. Try again. Suppose the following items were taken from the 2022 financial statements of Texas Instruments, Inc. (All dollars are in millions.) Common stock Prepaid rent Equipment Stock investments (long-term) Debt investments (short-term) Income taxes payable Cash $3,420 Accumulated depreciation-equipment $2,690 175 Accounts payable 1,080 6,110 Patents 2,120 670 Notes payable (long-term) 850 1,680 Retained earnings 160 Accounts receivable 1,740 1,060 Inventory 1,020 6,375

Answer 1

Balance Sheet:

TEXAS INSTRUMENTS, INC.
Balance Sheet
December 31,2022
(in millions)
Assets
Current Assets:
Cash	$1,060
Debt investments (short-term)	$1,680
Accounts receivable	$1,740
Inventory	$1,020
Prepaid rent	$175
Total current Assets		$5,675
Investments:
Stock investments (long-term)		$670
Property,plant,and equipment:
Equipment	$6,110
(Less): Accumulated depreciation-equipment	($2,690)
Property,plant,and equipment-Net		$3,420
Intangible assets:
Patents		$2,120
Total Assets		$11,885
Liabilities and stockholders' Equity
Current liabilities:
Accounts payable	$1,080
Income taxes payable	$160
Total current liabilities		$1,240
Long-term Debt:
Notes payable (long-term)		$850
Total liabilities		$2,090
Stockholders' Equity:
Common stock	$3,420
Retained earnings	$6,375
Total stockholders' equity		$9,795
Total liabilities and stockholders' equity		$11,885