Question

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

	Current Year		Previous Year
Current assets	$327,600		$189,540
Property, plant, and equipment	477,360		435,240
Intangible assets	131,040		77,220
Current liabilities	205,920		112,320
Long-term liabilities	346,320		301,860
Common stock	84,240		77,220
Retained earnings	299,520		210,600

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	$327,600	%	$189,540	%
Property, plant, and equipment	477,360	%	435,240	%
Intangible assets	131,040	%	77,220	%
Total assets	$936,000	%	$702,000	%
Current liabilities	$205,920	%	$112,320	%
Long-term liabilities	346,320	%	301,860	%
Common stock	84,240	%	77,220	%
Retained earnings	299,520	%	210,600	%
Total liabilities and stockholders' equity	$936,000	%	$702,000	%

Answer 1

--Instructions to calculate % figures are already given in the question

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	$          327,600	35.0%	$                             189,540	27.0%
Property, plant, and equipment	$          477,360	51.0%	$                             435,240	62.0%
Intangible assets	$          131,040	14.0%	$                               77,220	11.0%
Total assets	$          936,000	100.0%	$                             702,000	100.0%
Current liabilities	$          205,920	22.0%	$                             112,320	16.0%
Long-term liabilities	$          346,320	37.0%	$                             301,860	43.0%
Common stock	$            84,240	9.0%	$                               77,220	11.0%
Retained earnings	$          299,520	32.0%	$                            210,600	30.0%
Total liabilities and stockholders' equity	$          936,000	100.0%	$                             702,000	100.0%