Which of the following is an example of the benchmarking function of the budgeting process? A. A budget demands integrated input from different business units and functions. B. Budgeting requires close cooperation between accountants and operational personnel. C. The budget outlines a specific course of action for the coming period. D. Budget numbers are used to evaluate the performance of managers.

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.)