Balance sheet data for Kwan Company on December 31, the end of two recent fiscal years, follow: Current Year Previous Year Current assets $288,750 $177,120 Property, plant, and equipment 498,750 452,640 Intangible assets 87,500 26,240 Current liabilities 175,000 85,280 Long-term liabilities 376,250 301,760 Common stock 78,750 72,160 Retained earnings 245,000 196,800 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 Kwan Company on December 31, the end of two recent fiscal years, follow: Current Year Previous Year Current assets $288,750 $177,120 Property, plant, and equipment 498,750 452,640 Intangible assets 87,500 26,240 Current liabilities 175,000 85,280 Long-term liabilities 376,250 301,760 Common stock 78,750 72,160 Retained earnings 245,000 196,800 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.
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter16: Financial Statement Analysis
Section: Chapter Questions
Problem 4E
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Vertical Analysis of Balance Sheet
Balance sheet data for Kwan Company on December 31, the end of two recent fiscal years, follow:
Current Year
Previous Year
Current assets
$288,750
$177,120
Property, plant, and equipment
498,750
452,640
Intangible assets
87,500
26,240
Current liabilities
175,000
85,280
Long-term liabilities
376,250
301,760
Common stock
78,750
72,160
Retained earnings
245,000
196,800
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.
Kwan Company
Comparative Balance Sheet
For the Years Ended December 31
Current
Current
Previous Previous
year
year
year
year
Amount Percent
Amount
Percent
Current assets
$288,750
$177,120
%
4:45 PM
12/12/2020
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Transcribed Image Text:* CengageNOW2 | Onlin x
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Show Me How
Vertical Analysis of Balance Sheet
Balance sheet data for Kwan Company on December 31, the end of two recent fiscal years, follow:
Current Year
Previous Year
Current assets
$288,750
$177,120
Property, plant, and equipment
498,750
452,640
Intangible assets
87,500
26,240
Current liabilities
175,000
85,280
Long-term liabilities
376,250
301,760
Common stock
78,750
72,160
Retained earnings
245,000
196,800
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.
Kwan Company
Comparative Balance Sheet
For the Years Ended December 31
Current
Current
Previous Previous
year
year
year
year
Amount Percent
Amount
Percent
Current assets
$288,750
$177,120
%
4:45 PM
12/12/2020
DELL
prt sc
F10
home
F11
end
insert
del
F6
F8
F9
F12
%23
%24
&
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еВook
Show Me How
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.
Kwan Company
Comparative Balance Sheet
For the Years Ended December 31
Current
Current
Previous Previous
year
year
year
year
Amount Percent
Amount
Percent
Current assets
$288,750
%
$177,120
Property, plant, and equipment
498,750
%
452,640
%
Intangible assets
87,500
%
26,240
Total assets
$875,000
%
$656,000
Current liabilities
$175,000
%
$85,280
%
Long-term liabilities
376,250
%
301,760
%
Common stock
78,750
%
72,160
%
Retained earnings
245,000
196,800
Total liabilities and stockholders' equity $875,000
%
$656,000
%
4:45 PM
12/12/2020
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Transcribed Image Text:* CengageNOWv2 | Onlin X
+ v
-2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false
еВook
Show Me How
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.
Kwan Company
Comparative Balance Sheet
For the Years Ended December 31
Current
Current
Previous Previous
year
year
year
year
Amount Percent
Amount
Percent
Current assets
$288,750
%
$177,120
Property, plant, and equipment
498,750
%
452,640
%
Intangible assets
87,500
%
26,240
Total assets
$875,000
%
$656,000
Current liabilities
$175,000
%
$85,280
%
Long-term liabilities
376,250
%
301,760
%
Common stock
78,750
%
72,160
%
Retained earnings
245,000
196,800
Total liabilities and stockholders' equity $875,000
%
$656,000
%
4:45 PM
12/12/2020
DELL
F4
F5
prt sc
F6
F8
home
end
insert
F9
F10
delete
F11
F12
9
backspa
R
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6.
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CJ
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