Presented below is the comparative balance sheet for Windsor Company. Windsor Company Comparative Balance Sheet As...

Presented below is the comparative balance sheet for Windsor Company.

Windsor Company Comparative Balance Sheet As of December 31, 2021 and 2020
	December 31
	2021	2022
Assets
Cash	$178,300	$276,000
Accounts receivable (net)	219,900	154,300
Short-term investments	269,400	149,700
Inventories	1,069,600	982,200
Prepaid expenses	24,900	24,900
Plant & equipment	2,604,600	1,968,800
Accumulated depreciation	(990,000)	(752,100)
	$3,376,700	$2,803,800

Liabilities and Stockholders’ Equity
Accounts payable	$49,900	$74,700
Accrued expenses	170,100	198,600
Bonds payable	446,600	188,900
Capital stock	2,109,800	1,777,900
Retained earnings	600,300	563,700
	$3,376,700	$2,803,800

Prepare a comparative balance sheet of Windsor Company showing the percent each item is of the total assets or total liabilities and stockholders’ equity. (Round percentages to 2 decimal places, e.g. 2.25%.)

WINDSOR COMPANY Comparative Balance Sheet December 31, 2021 and 2020
	December 31
Assets	2021				2020
Cash	$178,300			%	$276,000			%
Accounts receivable (net)	219,900			%	154,300			%
Short-term investments	269,400			%	149,700			%
Inventories	1,069,600			%	982,200			%
Prepaid expenses	24,900			%	24,900			%
Plant and equipment	2,604,600			%	1,968,800			%
Accumulated depreciation	(990,000	)		%	(752,100	)		%
Total	$3,376,700			%	$2,803,800		enter percentages rounded to 2 decimal places	%

Liabilities and Stockholders’ Equity
Accounts payable	$49,900			%	$74,700			%
Accrued expenses	170,100			%	198,600			%
Bonds payable	446,600			%	188,900			%
Capital stock	2,109,800			%	1,777,900			%
Retained earnings	600,300			%	563,700			%
Total	$3,376,700		enter percentages rounded to 2 decimal places	%	$2,803,800			%

eTextbook and Media

Prepare a comparative balance sheet of Windsor Company showing the dollar change and the percent change for each item. (If there is a decrease from 2020 to 2021, then enter the amounts and percentages with either a negative sign, i.e. -92,000, -25.25 or parenthesis, i.e. (92,000), (25.25).)

WINDSOR COMPANY Comparative Balance Sheet December 31, 2021 and 2020
	December 31				Increase or (Decrease)
Assets	2021		2020		$ Change	% Change
Cash	$178,300		$276,000				%
Accounts receivable (net)	219,900		154,300				%
Investments	269,400		149,700				%
Inventories	1,069,600		982,200				%
Prepaid expenses	24,900		24,900				%
Plant and equipment	2,604,600		1,968,800				%
Accumulated depreciation	(990,000	)	(752,100	)			%
Total	$3,376,700		$2,803,800			enter percentages	%

Liabilities and Stockholders’ Equity
Accounts payable	$49,900		$74,700				%
Accrued expenses	170,100		198,600				%
Bonds payable	446,600		188,900				%
Capital stock	2,109,800		1,777,900				%
Retained earnings	600,300		563,700				%
Total	$3,376,700		$2,803,800			enter percentages	%

Expert Solution

Answer :

1. Comparative balance sheet of Windsor Company showing the percent each item is of the total assets or total liabilities and stockholders’ equity :

	December 31, 2021	% December 31, 2021	December 31, 2020	% December 31, 2020
Assets
Cash	178,300	5.28%	276,000	9.84%
Accounts receivable (net)	219,900	6.51%	154,300	5.50%
Investments	269,400	7.98%	149,700	5.34%
Inventories	1,069,600	31.67%	982,200	35.03%
Prepaid expenses	24,900	0.74%	24,900	0.89%
Plant and equipment	2,604,600	77.13%	1,968,800	70.22%
Less : Accumulated depreciation	(990,000)	(29.32%)	(752,100)	(26.82%)
Total	3,376,700	100%	2,803,800	100%

Liabilities and Stockholders’ Equity
Accounts payable	49,900	1.48%	74,700	2.66%
Accrued expenses	170,100	5.04%	198,600	7.08%
Bonds payable	446,600	13.22%	188,900	6.74%
Capital stock	2,109,800	62.48%	1,777,900	63.41%
Retained earnings	600,300	17.78%	563,700	20.10%
Total	3,376,700	100%	2,803,800	100%

Percentage of assets column are calculated taking total assets as base and Percentage of liability column are calculated taking Liabilities and Stockholders’ Equity as base.

2. Comparative balance sheet of Windsor Company showing the dollar change and the percent change for each item :

	December 31, 2021	December 31, 2020	Dollar change	% change
Assets
Cash	178,300	276,000	(97,700)	(35.40%)
Accounts receivable (net)	219,900	154,300	65,600	42.51%
Investments	269,400	149,700	119,700	79.96%
Inventories	1,069,600	982,200	87,400	8.90%
Prepaid expenses	24,900	24,900	0	0
Plant and equipment	2,604,600	1,968,800	635,800	32.29%
Less : Accumulated depreciation	(990,000)	(752,100)	(237,900)	(31.63%)
Total	3,376,700	2,803,800	572,900	20.43%

Liabilities and Stockholders’ Equity
Accounts payable	49,900	74,700	(24,800)	(33.20%)
Accrued expenses	170,100	198,600	(28,500)	(14.35%)
Bonds payable	446,600	188,900	257,700	136.42%
Capital stock	2,109,800	1,777,900	331,900	18.67%
Retained earnings	600,300	563,700	36,600	6.49%
Total	3,376,700	2,803,800	572,900	20.43%

Dollar change = Amount of December 31, 2021 - Amount of December 31, 2020

% change = Dollar change / Amount of December 31, 2020

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