Balance sheet data for Alvarez Company on December 31, the end of two recent fiscal years, follow: Current Year Previous YearCurrent assets $2,500,000 $1,840,000Property, plant, and equipment 5,600,000 6,072,000Intangible assets 1,900,000 1,288,000Current liabilities 2,000,000 1,380,000Long-term liabilities 3,400,000 3,680,000Common stock 920,000 920,000Retained earnings 3,680,000 3,220,000Prepare 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. Round percentages to one decimal place.
Current Year Previous Year
Current assets $2,500,000 $1,840,000
Property, plant, and equipment 5,600,000 6,072,000
Intangible assets 1,900,000 1,288,000
Current liabilities 2,000,000 1,380,000
Long-term liabilities 3,400,000 3,680,000
Common stock 920,000 920,000
Retained earnings 3,680,000 3,220,000
Prepare a comparative balance sheet for both years, stating each asset as a percent of total assets and each liability and
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