AssetsCurrent AssetsCash and Cash EquivalentsAccounts ReceivablesMerchandise InventoriesOther Current AssetsTotal Current AssetsProperty and Equipment (net)Other AssetsTotal AssetsLiabilitiesCurrent LiabilitiesLong-Term liabilitiesCommon-Size Balance Sheets(Percentage of Total Assets)Total LiabilitiesStockholders' EquityCommon Stock,Additional Paid-in-CapitalRetained EarningsYear-endedFeb. 26,2019$60,87252,944637,95013,844765,610172,72415,160$953,494$402,028239,022641,0503,087224,08985,268312,444Total Stockholders' EquityTotal Liabilities and Stockholders' Equity $953,494Common-SizeYear-endedFeb. 27,20180%$7,1380%37,9680%249,9910%9,7290% 304,826126,4420%0%7,7740% $439,0420% $186,0050% 70,8540% 256,8590%1,1490% 137,15143,8830%0%182, 1830% $439,042Common-Size0%0%0%0%0%0%0%0%0%0%0%0%0%0%0%0% Common-Size Balance SheetsConsider the following balance sheet data for Davis Co., Inc., an electronics and major appliance retailer, at February 26, 2019 and February 27, 2018 (amounts in thousands):Feb. 26, 2019 Feb. 27, 2018$60,872$7,13837,968249,991Cash and Cash EquivalentsAccounts ReceivablesMerchandise InventoriesOther Current AssetsTotal Current AssetsProperty and Equipment (net)Other AssetsTotal AssetsCurrent LiabilitiesLong-Term liabilitiesTotal LiabilitiesCommon StockAdditional Paid-in-CapitalRetained EarningsTotal Stockholders' EquityTotal Liabilities and Stockholders' Equity52,944637,95013,844765,610172,72415,160$953,494$402,028239,022641,0503,087224,08985,268312,444$953,4949,729304,826126,4427,774DAVIS CO.. INC.$439,042$186,00570,854256,8591,149137,15143,883182,183$439,042Prepare common-size balance sheets for each year (use total assets as the base amount for computing percentages).Instructions:• Round percentages to one decimal place (ex: 0.2345=23.5%).• Compute percentages for each "Total" (do not add prior percentage amounts to arrive at Totals).

Name: AssetsCurrent AssetsCash and Cash EquivalentsAccounts ReceivablesMerc
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Description: AssetsCurrent AssetsCash and Cash EquivalentsAccounts ReceivablesMerchandise InventoriesOther Current AssetsTotal Current AssetsProperty and Equipment (net)Other AssetsTotal AssetsLiabilitiesCurrent LiabilitiesLong-Term liabilitiesCommon-Size Balanc

The statement of financial position is the position of the assets as on the balance sheet date.If we…

Business

Accounting

Assets Current Assets Cash and Cash Equivalents Accounts Receivables Merchandise Inventories Other Current Assets Total Current Assets Property and Equipment (net) Other Assets Total Assets Liabilities Current Liabilities Long-Term liabilities Common-Size Balance Sheets (Percentage of Total Assets) Total Liabilities Stockholders' Equity Common Stock. Additional Paid-in-Capital Retained Earnings Year- ended Feb. 26, Common- 2019 Size $60,872 52,944 637,950 13,844 765,610 172,724 15,160 $953,494 $402,028 239,022 641,050 3,087 224,089 85,268 Total Stockholders' Equity 312,444 Total Liabilities and Stockholders' Equity $953,494 Year- ended Feb. 27, 2018 0% $7,138 0% 37,968 0% 249,991 0%- 9,729 0% 304,826 0% 126,442 0% 7,774 0% $439,042 0% $186,005 0% 70,854 0% 256,859 0% 1,149 0% 137,151 43,883 0% 0% 182, 183 0% $439,042 Common- Size 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%

Assets Current Assets Cash and Cash Equivalents Accounts Receivables Merchandise Inventories Other Current Assets Total Current Assets Property and Equipment (net) Other Assets Total Assets Liabilities Current Liabilities Long-Term liabilities Common-Size Balance Sheets (Percentage of Total Assets) Total Liabilities Stockholders' Equity Common Stock. Additional Paid-in-Capital Retained Earnings Year- ended Feb. 26, Common- 2019 Size $60,872 52,944 637,950 13,844 765,610 172,724 15,160 $953,494 $402,028 239,022 641,050 3,087 224,089 85,268 Total Stockholders' Equity 312,444 Total Liabilities and Stockholders' Equity $953,494 Year- ended Feb. 27, 2018 0% $7,138 0% 37,968 0% 249,991 0%- 9,729 0% 304,826 0% 126,442 0% 7,774 0% $439,042 0% $186,005 0% 70,854 0% 256,859 0% 1,149 0% 137,151 43,883 0% 0% 182, 183 0% $439,042 Common- Size 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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