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	$	7,800			$	12,250			Accounts payable	$	46,400			$	52,750
Accounts receivable		15,800				31,000			Notes payable		20,600				26,500
Inventory		53,400				64,250
Total	$	77,000			$	107,500			Total	$	67,000			$	79,250
									Long-term debt	$	46,000			$	40,000
									Owners’ equity
									Common stock and paid-in surplus	$	50,000			$	50,000
									Retained earnings		237,000				330,750
Net plant and equipment	$	323,000			$	392,500			Total	$	287,000			$	380,750
Total assets	$	400,000			$	500,000			Total liabilities and owners’ equity	$	400,000			$	500,000

   

Prepare the 2015 combined common-size, common–base year balance sheet for Just Dew It. (Do not round intermediate calculations. Round your answers to 4 decimal places, e.g., 32.1616.)

  

	2014				2015
Assets
Current assets
Cash	$	7,800			$	12,250
Accounts receivable		15,800				31,000
Inventory		53,400				64,250
Total	$	77,000			$	107,500
Fixed assets
Net plant and equipment	$	323,000			$	392,500
Total assets	$	400,000			$	500,000
Liabilities and Owners’ Equity
Current liabilities
Accounts payable	$	46,400			$	52,750
Notes payable		20,600				26,500
Total	$	67,000			$	79,250
Long-term debt	$	46,000			$	40,000
Owners' equity
Common stock and paid-in surplus	$	50,000			$	50,000
Accumulated retained earnings		237,000				330,750
Total	$	287,000			$	380,750
Total liabilities and owners' equity	$	400,000			$	500,000

Answer 1

Combines Common size and common Base year Balance sheet