Question

Just Dew It Corporation reports the following balance sheet information for 2014 and 2015.

JUST DEW IT CORPORATION 2014 and 2015 Balance Sheets
Assets									Liabilities and Owners’ Equity
	2014				2015					2014				2015
Current assets									Current liabilities
Cash	$	10,620			$	13,275			Accounts payable	$	52,560			$	60,750
Accounts receivable		21,420				29,925			Notes payable		19,260				24,075
Inventory		67,860				82,575
Total	$	99,900			$	125,775			Total	$	71,820			$	84,825
									Long-term debt	$	36,000			$	27,000
									Owners’ equity
									Common stock and paid-in surplus	$	45,000			$	45,000
									Retained earnings		207,180				293,175
Net plant and equipment	$	260,100			$	324,225			Total	$	252,180			$	338,175
Total assets	$	360,000			$	450,000			Total liabilities and owners’ equity	$	360,000			$	450,000

  

Prepare the 2014 and 2015 common-size balance sheets for Just Dew It. (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)

  

	2014							2015
Assets
Current assets
Cash	$	10,620			%			$	13,275			%
Accounts receivable		21,420			%				29,925			%
Inventory		67,860			%				82,575			%
Total	$	99,900			%			$	125,775			%
Fixed assets
Net plant and equipment	$	260,100			%			$	324,225			%
Total assets	$	360,000			%			$	450,000			%
Liabilities and Owners’ Equity
Current liabilities
Accounts payable	$	52,560			%			$	60,750			%
Notes payable		19,260			%				24,075			%
Total	$	71,820			%			$	84,825			%
Long-term debt	$	36,000			%			$	27,000			%
Owners' equity
Common stock and paid-in surplus	$	45,000			%			$	45,000			%
Accumulated retained earnings		207,180			%				293,175			%
Total	$	252,180			%			$	338,175			%
Total liabilities and owners' equity	$	360,000			%			$	450,000			%

Answer 1

Ans.	JUST   DEW   IT
	Common Size Balance Sheet
	31-Dec
		2014	%	2015	%
	Assets:
	Current assets:
	Cash	$10,620	2.95%	$13,275	2.95%
	Accounts receivables	$21,420	5.95%	$29,925	6.65%
	Inventory	$67,860	18.85%	$82,575	18.35%
	Total	$99,900	27.75%	$125,775	27.95%
	Fixed assets:
	Net plant and equipment	$260,100	72.25%	$324,225	72.05%
	Total assets	$360,000	100.00%	$450,000	100.00%
	Liabilities and Owner's equity:
	Current liabilities:
	Accounts payable	$52,560	14.60%	$60,750	13.50%
	Notes payable	$19,260	5.35%	$24,075	5.35%
	Total	$71,820		$84,825
	Long term debt	$36,000	10.00%	$27,000	6.00%
	Owner's equity:
	Common stock paid in surplus	$45,000		$45,000
	Accumulated retained earnings	$207,180		$293,175
	Total	$252,180	70.05%	$338,175	75.15%
	Total Liabilities and Owners' equity	$360,000	100.00%	$450,000	100.00%
	*Calculations for Common- Size :
	Amount is percentage from assets side =   Particular amount from assets side / Total assets * 100
	Amount is percentage from liabilities side =   Particular amount from liability side / Total liabilities and owner's equity * 100