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TABLE 4–4 Moderately Large Corporation Consolidated Balance Sheet Moderately Large Corporation Consolidaed Balance Sheet (in thousands except share data) Fiscal Year Ended Dec. 31, 2013 Dec. 31, 2012 ASSETS Current assets: Cash and cash equivalents Accounts receivable, net $1,369 1,008 1,489 157 44 4,066 3,137 $1,427 876 481 126 40 2,950 2,287 161 $5,398 Inventories Prepaid expenses and other current assets Deferred income taxes, net Total current assets Property, plant and equipment, net Other assets TOTAL ASSETSS 168 $7,371 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable Accrued compensation and related costs Accrued taxes Current portion of long-term debt Total current liabilities Long-term debt Total liabilities $429 104 132 89 754 2,630 3,384 $242 98 141 82 563 1,830 2,392 Shareholders' equity: Common stock ($0.1 par value)-authorized, 4,000,000 shares; issued and outstanding, 3,500,000. Paid-in capital in excess of par Retained earnings Total shareholders' equity 350 350 2,415 1,222 3,987 $7,371 2,415 241 3,006 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $5,398

TABLE 4–4 Moderately Large Corporation Consolidated Balance Sheet Moderately Large Corporation Consolidaed Balance Sheet (in thousands except share data) Fiscal Year Ended Dec. 31, 2013 Dec. 31, 2012 ASSETS Current assets: Cash and cash equivalents Accounts receivable, net $1,369 1,008 1,489 157 44 4,066 3,137 $1,427 876 481 126 40 2,950 2,287 161 $5,398 Inventories Prepaid expenses and other current assets Deferred income taxes, net Total current assets Property, plant and equipment, net Other assets TOTAL ASSETSS 168 $7,371 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable Accrued compensation and related costs Accrued taxes Current portion of long-term debt Total current liabilities Long-term debt Total liabilities $429 104 132 89 754 2,630 3,384 $242 98 141 82 563 1,830 2,392 Shareholders' equity: Common stock ($0.1 par value)-authorized, 4,000,000 shares; issued and outstanding, 3,500,000. Paid-in capital in excess of par Retained earnings Total shareholders' equity 350 350 2,415 1,222 3,987 $7,371 2,415 241 3,006 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $5,398

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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Perform a vertical analysis of the MLC balance sheet (Table 4-4) for
December 31, 2012.

TABLE 4–4 Moderately Large Corporation Consolidated Balance Sheet Moderately Large Corporation Consolidaed Balance Sheet (in thousands except share data) Fiscal Year Ended Dec. 31, 2013 Dec. 31, 2012 ASSETS Current assets: Cash and cash equivalents Accounts receivable, net $1,369 1,008 1,489 157 44 4,066 3,137 $1,427 876 481 126 40 2,950 2,287 161 $5,398 Inventories Prepaid expenses and other current assets Deferred income taxes, net Total current assets Property, plant and equipment, net Other assets TOTAL ASSETSS 168 $7,371 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable Accrued compensation and related costs Accrued taxes Current portion of long-term debt Total current liabilities Long-term debt Total liabilities $429 104 132 89 754 2,630 3,384 $242 98 141 82 563 1,830 2,392 Shareholders' equity: Common stock ($0.1 par value)-authorized, 4,000,000 shares; issued and outstanding, 3,500,000. Paid-in capital in excess of par Retained earnings Total shareholders' equity 350 350 2,415 1,222 3,987 $7,371 2,415 241 3,006 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $5,398
Transcribed Image Text:TABLE 4–4 Moderately Large Corporation Consolidated Balance Sheet Moderately Large Corporation Consolidaed Balance Sheet (in thousands except share data) Fiscal Year Ended Dec. 31, 2013 Dec. 31, 2012 ASSETS Current assets: Cash and cash equivalents Accounts receivable, net $1,369 1,008 1,489 157 44 4,066 3,137 $1,427 876 481 126 40 2,950 2,287 161 $5,398 Inventories Prepaid expenses and other current assets Deferred income taxes, net Total current assets Property, plant and equipment, net Other assets TOTAL ASSETSS 168 $7,371 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable Accrued compensation and related costs Accrued taxes Current portion of long-term debt Total current liabilities Long-term debt Total liabilities $429 104 132 89 754 2,630 3,384 $242 98 141 82 563 1,830 2,392 Shareholders' equity: Common stock ($0.1 par value)-authorized, 4,000,000 shares; issued and outstanding, 3,500,000. Paid-in capital in excess of par Retained earnings Total shareholders' equity 350 350 2,415 1,222 3,987 $7,371 2,415 241 3,006 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $5,398
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