Balance sheet data for Alvarez Company on December 31, the end of two recent fiscal years, follow: 1 Current Year Previous Year 2 Current assets $1,469,000.00 $1,030,000.00 3 Property, plant, and equipment 3,164,000.00 3,399,000.00 4 Intangible assets 1,017,000.00 721,000.00 5 Current liabilities 1,017,000.00 669,500.00 6 Long-term liabilities 1,582,000.00 1,751,000.00 7 Common stock 565,000.00 618,000.00 8 Retained earnings 2,486,000.00 2,111,500.00 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. 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. Alvaraz Company Comparative Balance Sheet For the Years Ended December 31 1 Current Year Current Year Previous Year Previous Year 2 Amount Percent Amount Percent 3 Current assets $1,469,000.00 $1,030,000.00 4 Property, plant, and equipment 3,164,000.00 3,399,000.00 5 Intangible assets 1,017,000.00 721,000.00 6 Total assets $5,650,000.00 $5,150,000.00 7 Current liabilities $1,017,000.00 $669,500.00 8 Long-term liabilities 1,582,000.00 1,751,000.00 9 Common stock 565,000.00 618,000.00 10 Retained earnings 2,486,000.00 2,111,500.00 11 Total liabilities and stockholders’ equity $5,650,000.00 $5,150,000.00
Balance sheet data for Alvarez Company on December 31, the end of two recent fiscal years, follow: 1 Current Year Previous Year 2 Current assets $1,469,000.00 $1,030,000.00 3 Property, plant, and equipment 3,164,000.00 3,399,000.00 4 Intangible assets 1,017,000.00 721,000.00 5 Current liabilities 1,017,000.00 669,500.00 6 Long-term liabilities 1,582,000.00 1,751,000.00 7 Common stock 565,000.00 618,000.00 8 Retained earnings 2,486,000.00 2,111,500.00 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. 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. Alvaraz Company Comparative Balance Sheet For the Years Ended December 31 1 Current Year Current Year Previous Year Previous Year 2 Amount Percent Amount Percent 3 Current assets $1,469,000.00 $1,030,000.00 4 Property, plant, and equipment 3,164,000.00 3,399,000.00 5 Intangible assets 1,017,000.00 721,000.00 6 Total assets $5,650,000.00 $5,150,000.00 7 Current liabilities $1,017,000.00 $669,500.00 8 Long-term liabilities 1,582,000.00 1,751,000.00 9 Common stock 565,000.00 618,000.00 10 Retained earnings 2,486,000.00 2,111,500.00 11 Total liabilities and stockholders’ equity $5,650,000.00 $5,150,000.00
Chapter3: Evaluation Of Financial Performance
Section: Chapter Questions
Problem 19P
Related questions
Question
Balance sheet data for Alvarez Company on December 31, the end of two recent fiscal years, follow:
1
|
|
Current Year
|
Previous Year
|
2
|
Current assets
|
$1,469,000.00
|
$1,030,000.00
|
3
|
Property, plant, and equipment
|
3,164,000.00
|
3,399,000.00
|
4
|
Intangible assets
|
1,017,000.00
|
721,000.00
|
5
|
Current liabilities
|
1,017,000.00
|
669,500.00
|
6
|
Long-term liabilities
|
1,582,000.00
|
1,751,000.00
|
7
|
Common stock
|
565,000.00
|
618,000.00
|
8
|
|
2,486,000.00
|
2,111,500.00
|
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.
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.
Alvaraz Company
|
Comparative Balance Sheet
|
For the Years Ended December 31
|
1
|
|
Current Year
|
Current Year
|
Previous Year
|
Previous Year
|
2
|
|
Amount
|
Percent
|
Amount
|
Percent
|
3
|
Current assets
|
$1,469,000.00
|
|
$1,030,000.00
|
|
4
|
Property, plant, and equipment
|
3,164,000.00
|
|
3,399,000.00
|
|
5
|
Intangible assets
|
1,017,000.00
|
|
721,000.00
|
|
6
|
Total assets
|
$5,650,000.00
|
|
$5,150,000.00
|
|
7
|
Current liabilities
|
$1,017,000.00
|
|
$669,500.00
|
|
8
|
Long-term liabilities
|
1,582,000.00
|
|
1,751,000.00
|
|
9
|
Common stock
|
565,000.00
|
|
618,000.00
|
|
10
|
Retained earnings
|
2,486,000.00
|
|
2,111,500.00
|
|
11
|
Total liabilities and stockholders’ equity
|
$5,650,000.00
|
|
$5,150,000.00
|
|
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 2 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
EBK CONTEMPORARY FINANCIAL MANAGEMENT
Finance
ISBN:
9781337514835
Author:
MOYER
Publisher:
CENGAGE LEARNING - CONSIGNMENT
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
EBK CONTEMPORARY FINANCIAL MANAGEMENT
Finance
ISBN:
9781337514835
Author:
MOYER
Publisher:
CENGAGE LEARNING - CONSIGNMENT
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning