EX 15-4Vertical analysis of balance sheetOBJ. 1Balance sheet data for Novak Company on December 31, the end of two recent fiscalyears, follows:Current YearPrevious YearCurrent assets$ 945,0003,150,000$1,300,000Property, plant, and equipmentIntangible assetsCurrent liabilities3,000,000700,000405,0001,000,000720,000Long-term liabilities1,500,0001,575,000Common stock500,000495,000Retained earnings2,000,0001,710,000Prepare a comparative balance sheet for both years, stating each asset as a percent of totalassets and each liability and stockholders' equity item as a percent of the total liabilitiesand stockholders' equity. Round to one decimal place.

Financial statements of a firm include income statement, balance sheet, cash flow statement and…

Balance sheet data for Novak Company on December 31, the end of two recent fiscal years, follows: Current Year Previous Year Current assets $1,300,000 $ 945,000 Property, plant, and equipment Intangible assets Current liabilities 3,000,000 3,150,000 700,000 405,000 1,000,000 720,000 Long-term liabilities Common stock 1,500,000 1,575,000 500,000 495,000 Retained earnings 2,000,000 1,710,000 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. Round to one decimal place.

Balance sheet data for Novak Company on December 31, the end of two recent fiscal years, follows: Current Year Previous Year Current assets $1,300,000 $ 945,000 Property, plant, and equipment Intangible assets Current liabilities 3,000,000 3,150,000 700,000 405,000 1,000,000 720,000 Long-term liabilities Common stock 1,500,000 1,575,000 500,000 495,000 Retained earnings 2,000,000 1,710,000 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. Round to one decimal place.

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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