Question

Just Dew It Corporation reports the following balance sheet information for 2017 and 2018.

  

JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets
Assets									Liabilities and Owners’ Equity
	2017				2018					2017				2018
Current assets									Current liabilities
Cash	$	7,950			$	11,800			Accounts payable	$	40,500			$	45,800
Accounts receivable		23,550				29,000			Notes payable		14,850				20,800
Inventory		36,750				47,000
Total	$	68,250			$	87,800			Total	$	55,350			$	66,600
									Long-term debt	$	30,000			$	24,000
									Owners’ equity
									Common stock and paid-in surplus	$	42,000			$	42,000
									Retained earnings		172,650				267,400
Net plant and equipment	$	231,750			$	312,200			Total	$	214,650			$	309,400
Total assets	$	300,000			$	400,000			Total liabilities and owners’ equity	$	300,000			$	400,000

   

Prepare the 2018 combined common-size, common-base year balance sheet for Just Dew It. (Do not round intermediate calculations and round your answers to 4 decimal places, e.g., 32.1616.)

  

	2017	2018
Assets
Cash	7,950	11,800
Accounts receivable	23,550	29,000
Inventory	36,750	47,000
Total	68,250	87,800
Fixed Assets
Net plant and equipment	231,750	312,200
Total Assets	300,000	400,000	1.0000
Liabilities and Owners' Equity
Current liabilities
Accounts payable	40,500	45,800
Notes payable	14,850	20,850
Total	55,350	66,000
Long-term debt	30000	24,000
Owners' equity
Common stock and paid-in surplus	42,000	42,000
Accumulated retained earnings	172,650	267,400
Total	214,650	309,400
Total liabilities and owner's equity	300,000	400,000	1.0000

Answer 1

Calculate the common size and common base year balance sheet as follows:

Formulas: