Presented below is the comparative balance sheet for Martinez Company. Martinez Company Comparative Balance Sheet As...

Presented below is the comparative balance sheet for Martinez Company.

Martinez Company Comparative Balance Sheet As of December 31, 2021 and 2020
	December 31
	2021	2022
Assets
Cash	$181,000	$272,500
Accounts receivable (net)	218,100	155,200
Short-term investments	271,100	149,100
Inventories	1,066,900	978,500
Prepaid expenses	24,800	24,800
Plant & equipment	2,604,700	1,948,400
Accumulated depreciation	(1,003,600)	(743,000)
	$3,363,000	$2,785,500

Liabilities and Stockholders’ Equity
Accounts payable	$49,800	$74,700
Accrued expenses	168,900	200,700
Bonds payable	452,100	189,100
Capital stock	2,108,600	1,782,200
Retained earnings	583,600	538,800
	$3,363,000	$2,785,500

Prepare a comparative balance sheet of Martinez Company showing the percent each item is of the total assets or total liabilities and stockholders’ equity. (Round percentages to 2 decimal places, e.g. 2.25%.)

MARTINEZ COMPANY Comparative Balance Sheet December 31, 2021 and 2020
	December 31
Assets	2021				2020
Cash	$181,000		enter percentages rounded to 2 decimal places	%	$272,500		enter percentages rounded to 2 decimal places	%
Accounts receivable (net)	218,100		enter percentages rounded to 2 decimal places	%	155,200		enter percentages rounded to 2 decimal places	%
Short-term investments	271,100		enter percentages rounded to 2 decimal places	%	149,100		enter percentages rounded to 2 decimal places	%
Inventories	1,066,900		enter percentages rounded to 2 decimal places	%	978,500		enter percentages rounded to 2 decimal places	%
Prepaid expenses	24,800		enter percentages rounded to 2 decimal places	%	24,800		enter percentages rounded to 2 decimal places	%
Plant and equipment	2,604,700		enter percentages rounded to 2 decimal places	%	1,948,400		enter percentages rounded to 2 decimal places	%
Accumulated depreciation	(1,003,600	)	enter percentages rounded to 2 decimal places	%	(743,000	)	enter percentages rounded to 2 decimal places	%
Total	$3,363,000		enter percentages rounded to 2 decimal places	%	$2,785,500		enter percentages rounded to 2 decimal places	%

Liabilities and Stockholders’ Equity
Accounts payable	$49,800		enter percentages rounded to 2 decimal places	%	$74,700		enter percentages rounded to 2 decimal places	%
Accrued expenses	168,900		enter percentages rounded to 2 decimal places	%	200,700		enter percentages rounded to 2 decimal places	%
Bonds payable	452,100		enter percentages rounded to 2 decimal places	%	189,100		enter percentages rounded to 2 decimal places	%
Capital stock	2,108,600		enter percentages rounded to 2 decimal places	%	1,782,200		enter percentages rounded to 2 decimal places	%
Retained earnings	583,600		enter percentages rounded to 2 decimal places	%	538,800		enter percentages rounded to 2 decimal places	%
Total	$3,363,000		enter percentages rounded to 2 decimal places	%	$2,785,500		enter percentages rounded to 2 decimal places	%

Expert Solution

Martinez Company
Comparative Balance Sheet
As of December 31, 2021 and 2022
	December 31 2021	Current Year Percentage	December 31 2022	Previous Year Percentage
Assets
Cash	$ 1,81,000	5.38%	$ 2,72,500	9.78%
Account Receivable (Net)	$ 2,18,100	6.49%	$ 1,55,200	5.57%
Short Term Investments	$ 2,71,100	8.06%	$ 1,49,100	5.35%
Inventories	$ 10,66,900	31.72%	$ 9,78,500	35.13%
Prepaid Expenses	$ 24,800	0.74%	$ 24,800	0.89%
Plant & Equipment	$ 26,04,700	77.45%	$ 19,48,400	69.95%
Accumulated Depreciation	$ -10,03,600	-29.84%	$ -7,43,000	-26.67%
Total Assets	$ 33,63,000	100.00%	$ 27,85,500	100.00%

Liabilities and Stockholder'sEquity
Account Payable	$ 49,800	1.48%	$ 74,700	2.68%
Accrued Expenses	$ 1,68,900	5.02%	$ 2,00,700	7.21%
Bonds Payable	$ 4,52,100	13.44%	$ 1,89,100	6.79%
Capital Stock	$ 21,08,600	62.70%	$ 17,82,200	63.98%
Retained Earnings	$ 5,83,600	17.35%	$ 5,38,800	19.34%
Total Liability and Stockholder's Equity	$ 33,63,000	100.00%	$ 27,85,500	100.00%

ekkarill92 answered 2 years ago

Presented below is the comparative balance sheet for Windsor Company. Windsor Company Comparative Balance Sheet As...

Presented below is the comparative balance sheet for Windsor Company. Windsor Company Comparative Balance Sheet As of December 31, 2021 and 2020 December 31 2021 2022 Assets Cash $178,300 $276,000 Accounts receivable (net) 219,900 154,300 Short-term investments 269,400 149,700 Inventories 1,069,600 982,200 Prepaid expenses 24,900 24,900 Plant & equipment 2,604,600 1,968,800 Accumulated depreciation (990,000) (752,100) $3,376,700 $2,803,800 Liabilities and Stockholders’ Equity Accounts payable $49,900 $74,700 Accrued expenses 170,100 198,600 Bonds payable 446,600 188,900 Capital stock 2,109,800 1,777,900 Retained earnings 600,300...

Comparative balance sheet accounts of Splish Company are presented below. SPLISH COMPANY COMPARATIVE BALANCE SHEET ACCOUNTS...

Comparative balance sheet accounts of Splish Company are presented below. SPLISH COMPANY COMPARATIVE BALANCE SHEET ACCOUNTS AS OF DECEMBER 31 Debit Balances 2020 2019 Cash $70,600 $50,500 Accounts Receivable 155,100 130,000 Inventory 75,600 61,100 Debt investments (available-for-sale) 55,100 84,300 Equipment 70,300 48,400 Buildings 144,400 144,400 Land 39,600 25,300 Totals $610,700 $544,000 Credit Balances Allowance for Doubtful Accounts $10,000 $7,900 Accumulated Depreciation—Equipment 21,000 14,100 Accumulated Depreciation—Buildings 37,300 28,200 Accounts Payable 66,400 60,600 Income Taxes Payable 11,900 9,900 Long-Term Notes Payable 62,000...

Comparative balance sheet accounts of Carla Company are presented below. CARLA COMPANY COMPARATIVE BALANCE SHEET ACCOUNTS...

Comparative balance sheet accounts of Carla Company are presented below. CARLA COMPANY COMPARATIVE BALANCE SHEET ACCOUNTS AS OF DECEMBER 31 Debit Balances 2020 2019 Cash $69,900 $50,600 Accounts Receivable 154,800 130,300 Inventory 75,700 61,400 Debt investments (available-for-sale) 55,100 84,600 Equipment 69,300 48,400 Buildings 145,700 145,700 Land 40,200 25,200 Totals $610,700 $546,200 Credit Balances Allowance for Doubtful Accounts $10,100 $7,900 Accumulated Depreciation—Equipment 21,000 14,000 Accumulated Depreciation—Buildings 36,800 28,100 Accounts Payable 65,600 59,500 Income Taxes Payable 12,000 10,100 Long-Term Notes Payable 62,000...

Comparative balance sheet accounts of Sweet Company are presented below. SWEET COMPANY COMPARATIVE BALANCE SHEET ACCOUNTS...

Comparative balance sheet accounts of Sweet Company are presented below. SWEET COMPANY COMPARATIVE BALANCE SHEET ACCOUNTS AS OF DECEMBER 31 Debit Balances 2020 2019 Cash $69,600 $51,100 Accounts Receivable 156,500 130,000 Inventory 75,700 60,800 Debt investments (available-for-sale) 55,000 85,300 Equipment 69,600 47,800 Buildings 144,900 144,900 Land 39,600 25,200 Totals $610,900 $545,100 Credit Balances Allowance for Doubtful Accounts $10,000 $8,000 Accumulated Depreciation—Equipment 20,800 14,100 Accumulated Depreciation—Buildings 37,000 27,900 Accounts Payable 66,500 59,800 Income Taxes Payable 11,900 10,000 Long-Term Notes Payable 62,000...

Comparative balance sheet accounts of Pina Company are presented below. PINA COMPANY COMPARATIVE BALANCE SHEET ACCOUNTS...

Comparative balance sheet accounts of Pina Company are presented below. PINA COMPANY COMPARATIVE BALANCE SHEET ACCOUNTS AS OF DECEMBER 31 Debit Balances 2017 2016 Cash $69,500 $50,900 Accounts Receivable 153,400 131,000 Inventory 75,300 60,900 Debt investments (available-for-sale) 54,800 85,600 Equipment 70,300 48,300 Buildings 143,900 143,900 Land 40,000 24,900 Totals $607,200 $545,500 Credit Balances Allowance for Doubtful Accounts $10,100 $7,900 Accumulated Depreciation—Equipment 20,800 14,000 Accumulated Depreciation—Buildings 36,900 27,700 Accounts Payable 66,500 59,600 Income Taxes Payable 11,900 10,100 Long-Term Notes Payable 62,000...

A comparative balance sheet for Martinez Corporation is presented below. December 31 Assets 2017 2016 Cash...

A comparative balance sheet for Martinez Corporation is presented below. December 31 Assets 2017 2016 Cash $ 72,870 $ 22,000 Accounts receivable 83,730 67,860 Inventory 181,730 190,860 Land 72,730 111,860 Equipment 261,730 201,860 Accumulated Depreciation-Equipment ( 70,730 ) ( 43,860 ) Total $ 602,060 $ 550,580 Liabilities and Stockholders' Equity Accounts payable $ 35,730 $ 48,860 Bonds payable 150,000 200,000 Common stock ($1 par) 214,000 164,000 Retained earnings 202,330 137,720 Total $ 602,060 $ 550,580 Additional information: 1. Net income for 2017 was $...

Condensed financial data of Martinez Company for 2020 and 2019 are presented below. MARTINEZ COMPANY COMPARATIVE...

Condensed financial data of Martinez Company for 2020 and 2019 are presented below. MARTINEZ COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019 2020 2019 Cash $1,830 $1,180 Receivables 1,710 1,320 Inventory 1,590 1,920 Plant assets 1,890 1,710 Accumulated depreciation (1,220 ) (1,190 ) Long-term investments (held-to-maturity) 1,320 1,440 $7,120 $6,380 Accounts payable $1,190 $890 Accrued liabilities 210 260 Bonds payable 1,400 1,580 Common stock 1,940 1,660 Retained earnings 2,380 1,990 $7,120 $6,380 MARTINEZ COMPANY INCOME STATEMENT FOR...

A comparative balance sheet for the Stanley Corporation is presented below: Corporation Comparative Balance Sheet 2019...

A comparative balance sheet for the Stanley Corporation is presented below: Corporation Comparative Balance Sheet 2019 2018 Assets Cash $ 37,000 $ 31,000 Accounts receivable (net) 80,000 60,000 Prepaid insurance 22,000 17,000 Land 18,000 40,000 Equipment 70,000 60,000 Accumulated depreciation (20,000) (13,000) Total Assets $207,000 $195,000 Liabilities and Stockholders' Equity Accounts payable $ 12,000 $ 6,000 Bonds payable 27,000 19,000 Common stock 140,000 115,000 Retained earnings 28,000 55,000 Total liabilities and stockholders' equity $207,000 $195,000 Additional information: 1. Net loss for 2019 is $12,000. Depreciation...

Presented below is the comparative balance sheet for Grouper Company. PLEASE SHOW WORK Grouper Company Comparative...

Presented below is the comparative balance sheet for Grouper Company. PLEASE SHOW WORK Grouper Company Comparative Balance Sheet As of December 31, 2021 and 2020 December 31 2021 2022 Assets Cash $181,000 $272,500 Accounts receivable (net) 218,100 155,200 Short-term investments 271,100 149,100 Inventories 1,066,900 978,500 Prepaid expenses 24,800 24,800 Plant & equipment 2,604,700 1,948,400 Accumulated depreciation (1,003,600) (743,000) $3,363,000 $2,785,500 Liabilities and Stockholders’ Equity Accounts payable $49,800 $74,700 Accrued expenses 168,900 200,700 Bonds payable 452,100 189,100 Capital stock 2,108,600 1,782,200...

Problem 23-08 Comparative balance sheet accounts of Coronado Company are presented below. CORONADO COMPANY COMPARATIVE BALANCE...

Problem 23-08 Comparative balance sheet accounts of Coronado Company are presented below. CORONADO COMPANY COMPARATIVE BALANCE SHEET ACCOUNTS AS OF DECEMBER 31 Debit Balances 2020 2019 Cash $69,600 $51,100 Accounts Receivable 156,500 130,000 Inventory 75,700 60,800 Debt investments (available-for-sale) 55,000 85,300 Equipment 69,600 47,800 Buildings 144,900 144,900 Land 39,600 25,200 Totals $610,900 $545,100 Credit Balances Allowance for Doubtful Accounts $10,000 $8,000 Accumulated Depreciation—Equipment 20,800 14,100 Accumulated Depreciation—Buildings 37,000 27,900 Accounts Payable 66,500 59,800 Income Taxes Payable 11,900 10,000 Long-Term Notes...

Question