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Asset section of classified balance sheet

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The following information (in thousands of dollars) is available for H.J. Heinz Company - famous for ketchup and other fine food products - for the year ended April 28, 2007

Prepare the asset section of a classified balance sheet.

Prepaid expenses $165,177 Inventories $1,156,932
Land 65,836 Buildings and equipment 3,661,388
Other current assets 15,493 Cash and cash equivalents 1,180,039
Intangible assets 2,753,735 Receivables 1,093,155
Other noncurrent assets 1,455,372 Accumulated depreciation 1,669,938

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Solution Summary

The solution explains how to prepare the asset section of classified balance sheet

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The asset section would be as below

Assets

Current Assets

Cash and cash equivalents 1,180,039
Receivables 1,093,155
Inventories $1,156,932
Prepaid expenses ...

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