Your friend Cameron just bought a top-of-the-line mountain bike and paid with cash. He listed his old one online. A buyer expressed interest in the bike and while they were talking, you heard Cameron describe the old bike as “like new.” You know the bike’s front-wheel fork once snapped and had to be welded. With new paint, the weld is invisible. The buyer passed on the bike. What do you do? Do you talk to Cameron about lying to a potential buyer? Do you stay quiet? Remember, to use what you have learned so far in our course!

Suppose the following items were taken from the 2017 financial statements of whispering winds corp.. (all dollars are in millions.) common stock $3,230 accumulated depreciation—equipment $3,940 prepaid rent 175 accounts payable 1,560 equipment 6,940 patents 2,270 stock investments (long-term) 670 notes payable (long-term) 780 debt investments (short-term) 1,740 retained earnings 6,175 income taxes payable 150 accounts receivable 1,740 cash 1,290 inventory 1,010 prepare a classified balance sheet in good form as of december 31, 2017. (list current assets in order of liquidity.)