Balance sheet data for Alvarez Company on December 31, the end of two recent fiscal years, follows: Current Year Previous Year Current assets $345,510 $196,250 Property, plant, and equipment 596,790 557,350 Intangible assets 104,700 31,400 Current liabilities 240,810 141,300 Long-term liabilities 397,860 321,850 Common stock 125,640 117,750 Retained earnings 282,690 204,100 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.
Balance sheet data for Alvarez Company on December 31, the end of two recent fiscal years, follows: Current Year Previous Year Current assets $345,510 $196,250 Property, plant, and equipment 596,790 557,350 Intangible assets 104,700 31,400 Current liabilities 240,810 141,300 Long-term liabilities 397,860 321,850 Common stock 125,640 117,750 Retained earnings 282,690 204,100 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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
100%
3.
Current Year |
Previous Year | ||
| Current assets | $345,510 | $196,250 | |
| Property, plant, and equipment | 596,790 | 557,350 | |
| Intangible assets | 104,700 | 31,400 | |
| Current liabilities | 240,810 | 141,300 | |
| Long-term liabilities | 397,860 | 321,850 | |
| Common stock | 125,640 | 117,750 | |
| 282,690 | 204,100 |
Prepare a comparative balance sheet for both years, stating each asset as a percent of total assets and each liability and
Transcribed Image Text: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
$345,510
%
$196,250
%
Property, plant, and equipment
596,790
%
557,350
%
Intangible assets
104,700
%
31,400
%
Total assets
$1,047,000
%
$785,000
%
Current liabilities
$240,810
%
$141,300
%
Long-term liabilities
397,860
%
321,850
%
Common stock
125,640
117,750
%
Retained earnings
282,690
%
204,100
%
Total liabilities and stockholders' equity $1,047,000
%
$785,000
%
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 2 steps
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education