Question

Common-Size and Rate of Change Analyses: McCormick

McCormick & Company, Inc. is one of the world's leading producers of spices, herbs, seasonings, condiments, and other flavorings for foods. Its products are sold to consumers, with some of the leading brands of spices and seasonings, as well as to industrial producers of foods. McCormick's consolidated balance sheets for 2012 and 2013 follow.

McCormick: Consolidated Balance Sheets
	Dollar Amounts in Millions
	2012	2013
Assets
Current Assets
Cash and Equivalents	$ 79.0	$ 63.0
Receivables	465.9	495.5
Inventories	615.0	676.9
Prepaid Expenses and Other Assets	125.5	134.8
Total Current Assets	$ 1,285.4	$ 1,370.2
Property and Equipment, Net	547.3	576.6
Goodwill	1,695.3	1,798.5
Intangible Assets, net	323.5	333.4
Investments and Other Assets	313.9	371.0
Total Assets	$ 4,165.4	$ 4,449.7
Liabilities and Shareholders' Equity
Current Liabilities
Short-Term Borrowings	$ 140.3	$ 211.6
Current Portion of Long-Term Debt	252.3	2.5
Trade Accounts Payable	375.8	387.3
Other Accrued Liabilities	419.2	461.7
Total Current Liabilities	$ 1,187.6	$ 1,063.1
Long-Term Debt	779.2	1,019.0
Other Long-Term Liabilities	498.4	419.9
Total Liabilities	$ 2,465.2	$ 2,502.0
Shareholders' Equity
Common Stock	908.2	962.4
Retained Earnings	934.6	970.4
Accumulated Other Comprehensive Loss	(159.9)	(0.3)
Noncontrolling interests	17.3	15.2
Total Shareholders' Equity	$ 1,700.2	$ 1,947.7
Total Liabilities and Shareholders' Equity	$ 4,165.4	$ 4,449.7

Required:

Compute the common-size balance sheet for 2013 and the rate of change balance sheet for 2013. Round your answers to one decimal place. Indicate decreasing percentages with a minus sign.

McCormick's Consolidated Balance Sheets
(millions)
	Common-Sized 2013	Rates of Change 2013
Assets
Current Assets
Cash and Cash Equivalents	%	%
Trade Accounts Receivable	%	%
Inventories	%	%
Prepaid Expenses and Other Current Assets	%	%
Total Current Assets	%	%
Property, Plant, and Equipment, Net	%	%
Goodwill	%	%
Intangible Assets, Net	%	%
Investments and Other Assets	%	%
Total Assets	%	%
Liabilities and Shareholders' Equity
Current Liabilities
Short-Term Borrowings	%	%
Current Portion of Long-Term Debt	%	%
Trade Accounts Payable	%	%
Other Accrued Liabilities	%	%
Total Current Liabilities	%	%
Long-Term Debt	%	%
Other Long-Term Liabilities	%	%
Total Liabilities	%	%
Shareholders' Equity
Common Stock	%	%
Retained earnings	%	%
Accumulated Other Comprehensive Income (Loss)	%	%
Noncontrolling Interests	%	%
Total Shareholders' Equity	%	%
Total Liabilities and Shareholders' Equity	%	%

Answer 1

for formulas and calculations, refer to the image below -