use the information to make a common size balance sheet AssetsCashMarketable SecuritiesAccounts ReceivableInventoryTotal Current AssetsGross Plant & EquipmentAccumulated DepreciationNet Plant & EquipmentTotal AssetsLiabilities and Owners' EquityAccounts PayableNotes PayableOther Current LiabilitiesTotal Current LiabilitiesLong-term DebtTotal LiabilitiesCommon Stock (Incl. Paid-in CapitaRetained EarningsTotal Shareholder's EquityTotal Liabilities and Owners' Equity2022283,792207,445532,243515,5611,539,0409,521,2622,157,6147,363,6488,902,6882,022578,805204,72860,339843,8725,580,8766,424,7481,935,810542,1302,477,9408,902,6882021253,15253,080462,75793,829862,8188,089,2801,958,0366,131,2446,994,0622,021437,53953,95048,379539,8694,814,2455,354,1141,250,694389,2541,639,9486,994,062

Working note for preparation of common size statement.

Answered: use the information to make a common…

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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use the information to make a common size balance sheet

Assets
Cash
Marketable Securities
Accounts Receivable
Inventory
Total Current Assets
Gross Plant & Equipment
Accumulated Depreciation
Net Plant & Equipment
Total Assets
Liabilities and Owners' Equity
Accounts Payable
Notes Payable
Other Current Liabilities
Total Current Liabilities
Long-term Debt
Total Liabilities
Common Stock (Incl. Paid-in Capita
Retained Earnings
Total Shareholder's Equity
Total Liabilities and Owners' Equity
2022
283,792
207,445
532,243
515,561
1,539,040
9,521,262
2,157,614
7,363,648
8,902,688
2,022
578,805
204,728
60,339
843,872
5,580,876
6,424,748
1,935,810
542,130
2,477,940
8,902,688
2021
253,152
53,080
462,757
93,829
862,818
8,089,280
1,958,036
6,131,244
6,994,062
2,021
437,539
53,950
48,379
539,869
4,814,245
5,354,114
1,250,694
389,254
1,639,948
6,994,062

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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