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In: Accounting

Balance sheet data for Alvarez Company on December 31, the end of two recent fiscal years,...

Balance sheet data for Alvarez Company on December 31, the end of two recent fiscal years, follows:

Current Year Previous Year
Current assets $326,120 $205,140
Property, plant, and equipment 578,600 512,850
Intangible assets 147,280 71,010
Current liabilities 231,440 126,240
Long-term liabilities 431,320 355,050
Common stock 94,680 102,570
Retained earnings 294,560 205,140

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 $326,120 % $205,140 %
Property, plant, and equipment 578,600 % 512,850 %
Intangible assets 147,280 % 71,010 %
Total assets $1,052,000 % $789,000 %
Current liabilities $231,440 % $126,240 %
Long-term liabilities 431,320 % 355,050 %
Common stock 94,680 % 102,570 %
Retained earnings 294,560 % 205,140 %
Total liabilities and stockholders' equity $1,052,000 % $789,000 %

Solutions

Expert Solution

Alvaraz Company
Comparative Balance Sheet
For the Years Ended December 31
Current Current Previous Previous
year year year year
Amount Percent Amount Percent
Current assets [Current Asset/Total Asset*100] $326,120 31.00% $205,140 26.0%
Property, plant, and equipment [PPE/Total Asset*100] 578,600 55.00% 512,850 65.0%
Intangible assets [Intangibles Asset/Total Asset*100] 147,280 14.00% 71,010 9.0%
Total assets $1,052,000 100.00% $789,000 100.0%
Current liabilities [Current Liabilities/Total Liab. And stock. equity*100] $231,440 22.00% $126,240 16.0%
Long-term liabilities [Long term Liabilities/Total Liab. And stock. equity*100] 431,320 41.00% 355,050 45.0%
Common stock [Common Stock/Total Liab. And stock. equity*100] 94,680 9.00% 102,570 13.0%
Retained earnings [Retained/Total Liab. And stock. equity*100] 294,560 28.00% 205,140 26.0%
Total liabilities and stockholders' equity $1,052,000 100.00% $789,000 100.0%

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