The preliminary draft of the balance sheet at the end of the current fiscal year for Eagle Industries follows. The statement will be incorporated into the annual report to stockholders and will present the dollar amounts at the end of both the current and prior years on a comparative basis. The accounts in the statement are properly classified, and the dollar amounts have been determined in accordance with generally accepted accounting principles. The company does not intend to provide any more detailed information in the body of the statement.

Balance Sheet as of December 31, 20X1

($ in millions)

Assets

Current assets

Cash                                                         $13.4

Short-term investments                             6.8

Accounts receivable (net)                        113.0

Inventories                                                   228.0

Prepayments and other                             4.8

Total current assets                   366.0

Investments in equity securities (available for sale)         55.2

Property, plant, and equipment (net)                                    787.1

Total assets                                                                      $1,208.3

Liabilities and Stockholders’ Equity

Current liabilities

Current maturities on long-term debt                      $36.3

Notes payable                                                            79.5

Accounts payable                                                    139.8

Accrued taxes                                                          42.3

Accrued interest                                                      11.0

Other                                                                          4.4

Total current liabilities                                           313.3

Long-term liabilities                                             477.2

Total liabilities                                                       790.5

Stockholders’ equity   Preferred stock              30.0

Common stock                                                       77.0

Additional paid-in capital on common stock        65.4

Retained earnings—appropriated                         40.8

Retained earnings—unappropriated                    204.6

Total stockholders’ equity                                     417.8

Total liabilities and stockholders’ equity              $1,208.3

Required:

Identify the accounts that most likely would require further disclosure in the notes to the financial statements and describe what information would have to be disclosed in those notes by Eagle Industries before the statement can be included as part of the annual report for presentation to its stockholders?