In: Finance
Just Dew It Corporation reports the following balance sheet information for 2011 and 2012. |
JUST DEW IT CORPORATION 2011 and 2012 Balance Sheets |
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Assets | Liabilities and Owners’ Equity | |||||||||||||||
2011 | 2012 | 2011 | 2012 | |||||||||||||
Current assets | Current liabilities | |||||||||||||||
Cash | $ | 13,280 | $ | 14,600 | Accounts payable | $ | 40,000 | $ | 41,800 | |||||||
Accounts receivable | 7,520 | 19,200 | Notes payable | 14,240 | 21,600 | |||||||||||
Inventory | 42,400 | 51,000 | ||||||||||||||
Total | $ | 63,200 | $ | 84,800 | Total | $ | 54,240 | $ | 63,400 | |||||||
Long-term debt | $ | 32,000 | $ | 24,000 | ||||||||||||
Owners’ equity | ||||||||||||||||
Common stock and paid-in surplus | $ | 40,000 | $ | 40,000 | ||||||||||||
Retained earnings | 193,760 | 272,600 | ||||||||||||||
Net plant and equipment | $ | 256,800 | $ | 315,200 | Total | $ | 233,760 | $ | 312,600 | |||||||
Total assets | $ | 320,000 | $ | 400,000 | Total liabilities and owners’ equity | $ | 320,000 | $ | 400,000 | |||||||
Prepare the 2012 common–base year balance sheet for Just Dew It. (Round your answers to 4 decimal places. (e.g., 32.1616)) |
2011 | 2012 | |||||||||
Assets | ||||||||||
Current assets | ||||||||||
Cash | $ | 13,280 | $ | 14,600 | ||||||
Accounts receivable | 7,520 | 19,200 | ||||||||
Inventory | 42,400 | 51,000 | ||||||||
Total | $ | 63,200 | $ | 84,800 | ||||||
Fixed assets | ||||||||||
Net plant and equipment | $ | 256,800 | $ | 315,200 | ||||||
Total assets | $ | 320,000 | $ | 400,000 | ||||||
Liabilities and Owners’ Equity | ||||||||||
Current liabilities | ||||||||||
Accounts payable | $ | 40,000 | $ | 41,800 | ||||||
Notes payable | 14,240 | 21,600 | ||||||||
Total | $ | 54,240 | $ | 63,400 | ||||||
Long-term debt | $ | 32,000 | $ | 24,000 | ||||||
Owners' equity | ||||||||||
Common stock and paid-in surplus | $ | 40,000 | $ | 40,000 | ||||||
Accumulated retained earnings | 193,760 | 272,600 | ||||||||
Total | $ | 233,760 | $ | 312,600 | ||||||
Total liabilities and owners' equity | $ | 320,000 | $ | 400,000 | ||||||