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 3 years ago

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