Birtle Corporation reports the following statement of financial position information for 2017 and 2018. BIRTLE CORPORATION 2017 and 2018 Statement of Financial Position Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Current assets Cash Assets Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Current liabilities Accounts payable Notes payable Total 2017 $ 9,279 23,683 42,636 2018 $ 11,173 25,760 46,915 $75,598 $ 83,848 $272,047 Accumulated retained earnings Total $347,645 $381,815 Assets Liabilities and Owners' Equity $297,967 Long-term debt Owners' equity Common stock and paid-in surplus Prepare the 2018 combined common-size, common-base year statement of financial position for Birtle. (Do not round intermediate calculations. Round the final answers to 3 decimal places.) Total liabilities and owners' equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total Total liabilities and owners' equity 2017 Liabilities and Owners' Equity $ 9,279 23,683 42,636 $ 75,598 $272,047 $347,645 $ 41,060 16,157 $ 57,217 $ 40,000 $ 50,000 200,428 $250,428 $347,645 2018 $ 11,173 25,760 46,915 $ 83,848 $297,967 $381,815 $ 43,805 16,843 $ 60,648 $ 35,000 2017 $ 41,060 16,157 $57,217 $ 50,000 236,167 $286,167 $381,815 $50,000 200,428 2018 $ 43,805 16,843 $50,000 236.167 $250,428 $286,167 $347,645 $381,815
Birtle Corporation reports the following statement of financial position information for 2017 and 2018. BIRTLE CORPORATION 2017 and 2018 Statement of Financial Position Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Current assets Cash Assets Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Current liabilities Accounts payable Notes payable Total 2017 $ 9,279 23,683 42,636 2018 $ 11,173 25,760 46,915 $75,598 $ 83,848 $272,047 Accumulated retained earnings Total $347,645 $381,815 Assets Liabilities and Owners' Equity $297,967 Long-term debt Owners' equity Common stock and paid-in surplus Prepare the 2018 combined common-size, common-base year statement of financial position for Birtle. (Do not round intermediate calculations. Round the final answers to 3 decimal places.) Total liabilities and owners' equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total Total liabilities and owners' equity 2017 Liabilities and Owners' Equity $ 9,279 23,683 42,636 $ 75,598 $272,047 $347,645 $ 41,060 16,157 $ 57,217 $ 40,000 $ 50,000 200,428 $250,428 $347,645 2018 $ 11,173 25,760 46,915 $ 83,848 $297,967 $381,815 $ 43,805 16,843 $ 60,648 $ 35,000 2017 $ 41,060 16,157 $57,217 $ 50,000 236,167 $286,167 $381,815 $50,000 200,428 2018 $ 43,805 16,843 $50,000 236.167 $250,428 $286,167 $347,645 $381,815
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Birtle Corporation reports the following statement of financial position information for 2017 and 2018.
BIRTLE CORPORATION
2017 and 2018 Statement of Financial Position
Current assets
Cash
Accounts receivable
Inventory
Total
Fixed assets
Net plant and equipment
Total assets
Current assets
Cash
Assets
Accounts receivable
Inventory
Total
2017
$ 9,279
23,683
42,636
$ 75,598
Fixed assets
Net plant and equipment
Total assets
$272,047
$347,645 $381,815
Assets
2018
$ 11,173
25,760
46,915
$83,848
$297,967
Current liabilities
Accounts payable
Notes payable
Total
Long-tern debt
Owners' equity
Common stock and paid-in surplus
Accumulated retained earnings
Total
Liabilities and Owners' Equity
Total liabilities and owners' equity
Current liabilities
Accounts payable
Notes payable
Total
Long-term debt
Owners' equity
Common stock and paid-in surplus
Retained earnings
Total
Total liabilities and owners' equity
Prepare the 2018 combined common-size, common-base year statement of financial position for Birtle. (Do not round intermediate
calculations. Round the final answers to 3 decimal places.)
2017
$ 9,279
23,683
42,636
$ 75,598
Liabilities and Owners' Equity
$272,047
$347,645
$ 41,060
16,157
$ 57,217
$ 40,000
$ 50,000
200,428
$250,428
$347,645
2018
$ 11,173
25,760
46,915
$ 83,848
$297,967
$381,815
$ 43,805
16,843
$ 60,648
$ 35,000
2017
$ 41,060
16,157
$ 50,000
236,167
$286,167
$381,815
$ 57,217
$ 40,000
$ 50,000
200,428
$250,428
$347,645
2018
$ 43,805
16,843
$ 60,648
$ 35,000
$ 50,000
236,167
$286,167
$381,815
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