Balance sheet data for Kwan Company on December 31, the end of two recent fiscal years, follow: Current Year Previous Year Current assets $272,000 $172,260 Property, plant, and equipment 493,000 440,220 Intangible assets 85,000 25,520 Current liabilities 153,000 76,560 Long-term liabilities 365,500 280,720 Common stock 102,000 102,080 Retained earnings 229,500 178,640 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 vear year year year Amount Percent Amount Percent Current assets $272,000 $172,260 Property, plant, and equipment 493,000 440,220 Intangible assets 85,000 96 25,520

Balance sheet data for Kwan Company on December 31, the end of two recent fiscal years, follow: Current Year Previous Year Current assets $272,000 $172,260 Property, plant, and equipment 493,000 440,220 Intangible assets 85,000 25,520 Current liabilities 153,000 76,560 Long-term liabilities 365,500 280,720 Common stock 102,000 102,080 Retained earnings 229,500 178,640 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 vear year year year Amount Percent Amount Percent Current assets $272,000 $172,260 Property, plant, and equipment 493,000 440,220 Intangible assets 85,000 96 25,520

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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What amount of total assets does the company report on its balance sheet? What amount of total liabilities does the company report on its balance sheet?
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