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.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Vertical Analysis of Balance Sheet
Balance sheet data for Alvarez Company on December 31, the end of two recent fiscal years, follows:
Current Year
Previous Year
Current assets
$299,520
$182,520
Property, plant, and equipment
542,880
484,380
Intangible assets
93,600
35,100
Current liabilities
215,280
112,320
Long-term liabilities
365,040
287,820
Common stock
93,600
98,280
Retained earnings
262,080
203,580
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.
Alvaraz Company
Comparative Balance Sheet
For the Years Ended December 31
Current Current
Previous Previous
уear
year
year
year
Amount Percent
Amount Percent
Current assets
$299,520
%
$182,520
%
Property, plant, and equipment
542,880
%
484,380
Intangible assets
93,600
%
35,100
%
Total assets
$936,000
% $702,000
%
Current liabilities
$215,280
%
$112,320
%
Long-term liabilities
365,040
%
287,820
%
Common stock
93,600
98,280
%
Retained earnings
262.080
%
203,580
%
Total liabilities and stockholders' equity $936,000
%
$702,000
%
Transcribed Image Text:Vertical Analysis of Balance Sheet Balance sheet data for Alvarez Company on December 31, the end of two recent fiscal years, follows: Current Year Previous Year Current assets $299,520 $182,520 Property, plant, and equipment 542,880 484,380 Intangible assets 93,600 35,100 Current liabilities 215,280 112,320 Long-term liabilities 365,040 287,820 Common stock 93,600 98,280 Retained earnings 262,080 203,580 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. Alvaraz Company Comparative Balance Sheet For the Years Ended December 31 Current Current Previous Previous уear year year year Amount Percent Amount Percent Current assets $299,520 % $182,520 % Property, plant, and equipment 542,880 % 484,380 Intangible assets 93,600 % 35,100 % Total assets $936,000 % $702,000 % Current liabilities $215,280 % $112,320 % Long-term liabilities 365,040 % 287,820 % Common stock 93,600 98,280 % Retained earnings 262.080 % 203,580 % Total liabilities and stockholders' equity $936,000 % $702,000 %
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