Duster Company reported the following financial information at the end of 2007:
|
in millions |
| Unearned revenue |
$240 |
| Common stock at par |
30 |
| Capital in excess of par |
440 |
| Accounts payable |
1,150 |
| Treasury stock |
2,000 |
| Retained earnings |
5,160 |
| Accrued expenses |
830 |
| Accumulated other comprehensive loss |
210 |
| Long-term debt |
1,570 |
Calculate Duster’s liabilities and stockholders’ equity as of December 31, 2007.
|
Liabilities |
Stockholders' equity |
A.
| $3,790 million |
$7,420 million |
B.
| $3,550 million |
$7,840 million |
C.
| $3,790 million |
$3,420 million |
|
