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Glass Doctor
Selected Information from the Firm's Consolidated Balance Sheet

Question 129

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Glass Doctor
Selected information from the firm's consolidated balance sheet is provided below.Assume that all of the account balances on the balance sheet are normal balances.
 Glass Doctor  Selected Information from the Consolidated Balance Sheet (in millions)  Assets(in ahphabtical orver):  Dec. 31, 2014  Dec. 31, 2013  Accounts receivable $214.2$124.9 Cash and cash equivalents 100.099.5 Inventories 72.175.6 Marketable securities 44.740.3 Other current assets 10.812.0 Property, plant and equipment 5,006.65,001.2 Liabilities(in ahplabetical order):  Accounts payable and accrued expenses 14.415.4 Current portion of longterm debt 44.631.5 Income taxes payable 30.835.3 Longterm debt 350.0246.8 Longterm income taxes payable 29.931.7 Notes payable due in 8 months 101.0105.4 Other long-term liabilities 12.516.9\begin{array}{|l|l|l|}\hline \text { Glass Doctor }\\\hline \text { Selected Information from the Consolidated Balance Sheet (in millions) }\\\hline \text { Assets(in ahphabtical orver): } & \text { Dec. 31, 2014 } & \text { Dec. 31, 2013 } \\\hline \text { Accounts receivable } & \$ 214.2 & \$ 124.9 \\\hline \text { Cash and cash equivalents } & 100.0 & 99.5 \\\hline \text { Inventories } & 72.1 & 75.6 \\\hline \text { Marketable securities } & 44.7 & 40.3 \\\hline \text { Other current assets } & 10.8 & 12.0 \\\hline \text { Property, plant and equipment } & 5,006.6 & 5,001.2 \\\hline\\\hline \text { Liabilities(in ahplabetical order): }\\\hline \text { Accounts payable and accrued expenses } & 14.4 & 15.4 \\\hline \text { Current portion of longterm debt } & 44.6 & 31.5 \\\hline \text { Income taxes payable } & 30.8 & 35.3 \\\hline \text { Longterm debt } & 350.0 & 246.8 \\\hline \text { Longterm income taxes payable } & 29.9 & 31.7 \\\hline \text { Notes payable due in } 8 \text { months } & 101.0 & 105.4 \\\hline \text { Other long-term liabilities } & 12.5 & 16.9 \\\hline\end{array}
-Refer to the partial balance sheet presented above for Glass Doctor.Compute the total current liabilities for December 31,2014,and December 31,2013.

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Current liabilities include the followin...

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