Question

Just Dew It Corporation reports the following balance sheet information for 2017 and 2018.

  

JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets
Assets									Liabilities and Owners’ Equity
	2017				2018					2017				2018
Current assets									Current liabilities
Cash	$	6,600			$	15,250			Accounts payable	$	62,400			$	65,750
Accounts receivable		26,600				29,750			Notes payable		26,400				31,500
Inventory		75,800				92,250
Total	$	109,000			$	137,250			Total	$	88,800			$	97,250
									Long-term debt	$	50,000			$	40,000
									Owners’ equity
									Common stock and paid-in surplus	$	52,000			$	52,000
									Retained earnings		209,200				310,750
Net plant and equipment	$	291,000			$	362,750			Total	$	261,200			$	362,750
Total assets	$	400,000			$	500,000			Total liabilities and owners’ equity	$	400,000			$	500,000

   

Prepare the 2018 common-base year balance sheet for Just Dew It.(Do not round intermediate calculations and round your answers to 4 decimal places, e.g., 32.1616.)

2017	2017	2018
Assets
Current assets
Cash	$6,600	$15,250 ?
Accounts receivable	26,600	29,750 ?
Inventory	75,800	92,250 ?
Total	$109,000	$137,250 ?
Fixed assets
Net plant and equipment	$291,000	$362,750 ?
Total assets	$400,000	$500,000 ?
Liabilities and Owners’ Equity
Current liabilities
Accounts payable	$62,400	$65,750 ?
Notes payable	$26,400	$31,500 ?
Total	$88,800	$97,250 ?
Long-term debt	$50,000	$40,000 ?
Owners' equity
Common stock and paid-in surplus	$52,000	$52,000 ?
Accumulated retained earnings	209,200	310,750 ?
Total	$261,200	$362,750 ?
Total liabilities and owners' equity	$400,000	$500,000 ?

  

Answer 1