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Summary information from a company's balance sheets is provided below: 20X2 20X1 Assets: Current assets $89,000 $68,000 Property and equipment, net 246,000 229,000 Intangible assets, net 71,000 95,000 Total assets $406,000 $392,000 Current liabilities $76,000 $82,000 Long-term liabilities 123,000 96,000 Stockholders' equity Total liabilities and equity $406,000 $392,000 207,000 214,000 A common size balance sheet for year 20X2 will express intangible assets (net) as: 25.26% ● 17.49% 18.11% 27.79% 18.72%

Summary information from a company's balance sheets is provided below: 20X2 20X1 Assets: Current assets $89,000 $68,000 Property and equipment, net 246,000 229,000 Intangible assets, net 71,000 95,000 Total assets $406,000 $392,000 Current liabilities $76,000 $82,000 Long-term liabilities 123,000 96,000 Stockholders' equity Total liabilities and equity $406,000 $392,000 207,000 214,000 A common size balance sheet for year 20X2 will express intangible assets (net) as: 25.26% ● 17.49% 18.11% 27.79% 18.72%

FINANCIAL ACCOUNTING
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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Summary information from a company's balance sheets is provided below: 20X2 20X1 Assets: Current assets $89,000 $68,000 Property and equipment, net 246,000 229,000 Intangible assets, net 71,000 95,000 Total assets $406,000 $392,000 Current liabilities $76,000 $82,000 Long-term liabilities 123,000 96,000 Stockholders' equity Total liabilities and equity $406,000 $392,000 207,000 214,000 A common size balance sheet for year 20X2 will express intangible assets (net) as: 25.26% ● 17.49% 18.11% 27.79% 18.72%
Transcribed Image Text:Summary information from a company's balance sheets is provided below: 20X2 20X1 Assets: Current assets $89,000 $68,000 Property and equipment, net 246,000 229,000 Intangible assets, net 71,000 95,000 Total assets $406,000 $392,000 Current liabilities $76,000 $82,000 Long-term liabilities 123,000 96,000 Stockholders' equity Total liabilities and equity $406,000 $392,000 207,000 214,000 A common size balance sheet for year 20X2 will express intangible assets (net) as: 25.26% ● 17.49% 18.11% 27.79% 18.72%
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