In: Accounting
Balance sheet data for Alvarez Company on December 31, the end of two recent fiscal years, follows:
Current Year | Previous Year | |||
Current assets | $313,480 | $193,760 | ||
Property, plant, and equipment | 488,660 | 435,960 | ||
Intangible assets | 119,860 | 62,280 | ||
Current liabilities | 175,180 | 83,040 | ||
Long-term liabilities | 396,460 | 332,160 | ||
Common stock | 101,420 | 96,880 | ||
Retained earnings | 248,940 | 179,920 |
Prepare a comparative balance sheet for both years, stating each asset as a percent of total assets and each liability and stockholders' equity item as a percent of the total liabilities and stockholders' equity. If required, round percentages to one decimal place.
Alvaraz Company | ||||
Comparative Balance Sheet | ||||
For the Years Ended December 31 | ||||
Current year Amount |
Current year Percent |
Previous year Amount |
Previous year Percent |
|
Current assets | $313,480 | % | $193,760 | % |
Property, plant, and equipment | 488,660 | % | 435,960 | % |
Intangible assets | 119,860 | % | 62,280 | % |
Total assets | $922,000 | % | $692,000 | % |
Current liabilities | $175,180 | % | $83,040 | % |
Long-term liabilities | 396,460 | % | 332,160 | % |
Common stock | 101,420 | % | 96,880 | % |
Retained earnings | 248,940 | % | 179,920 | % |
Total liabilities and stockholders' equity | $922,000 | % | $692,000 | % |
Answer:
Current year | Current year | Previous year | Previous year | |
Current assets | $ 313,480 | 34.0% | $ 193,760 | 28.0% |
Property, plant, and equipment | $ 488,660 | 53.0% | $ 435,960 | 63.0% |
Intangible assets | $ 119,860 | 13.0% | $ 62,280 | 9.0% |
Total assets | $ 922,000 | 100.0% | $ 692,000 | 100.0% |
Current liabilities | $ 175,180 | 19.0% | $ 83,040 | 12.0% |
Long-term liabilities | $ 396,460 | 43.0% | $ 332,160 | 48.0% |
Common stock | $ 101,420 | 11.0% | $ 96,880 | 14.0% |
Retained earnings | $ 248,940 | 27.0% | $ 179,920 | 26.0% |
Total liabilities and stockholders' equity | $ 922,000 | 100.0% | $ 692,000 | 100.0% |
Calculations:
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