Please do not give solution in image format thanku Given the following data for the Swifty Company:Current liabilitiesLong-term debtCommon stockRetained earnings3500Total liabilities & stockholders' equity $5160$5206%56%14%16%440700How would common stock appear on a common size balance sheet?

Ownership in a corporation is represented by common stock, commonly referred to as ordinary shares…

Answered: Given the following data for the Swifty…

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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Given the following data for the Swifty Company: Current liabilities $520 Long-term debt 440 Common stock 700 Retained earnings 3500 Total liabilities & stockholders' equity $5160 How would common stock appear on a common size balance sheet? 6% 56% 14% 16%