Vertical Analysis of Balance Sheet Balance sheet data for Kwan Company on December 31, the end of two recent fiscal years, follow: Current assets Property, plant, and equipment Intangible assets Current liabilities Long-term liabilities Common stock Retained earnings Current Year Previous Year $300,390 $181,750 562,020 487,090 106,590 58,160 193,800 109,050 358,530 283,530 106,590 94,510 310,080 239,910 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. Kwan Company Comparative Balance Sheet For the Years Ended December 31 Current year year Amount Percent Current Previous Previous year Amount Percent year Current assets $300,390 % $181,750 % Property, plant, and equipment Intangible assets 562,020 % 487,090 % 106,590 % 58,160 %

FINANCIAL ACCOUNTING
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ISBN:9781259964947
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Chapter1: Financial Statements And Business Decisions
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Vertical Analysis of Balance Sheet
Balance sheet data for Kwan Company on December 31, the end of two recent fiscal years, follow:
Current assets
Property, plant, and equipment
Intangible assets
Current liabilities
Long-term liabilities
Common stock
Retained earnings
Current Year
Previous Year
$300,390
$181,750
562,020
487,090
106,590
58,160
193,800
109,050
358,530
283,530
106,590
94,510
310,080
239,910
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.
Kwan Company
Comparative Balance Sheet
For the Years Ended December 31
Current
year
year
Amount Percent
Current
Previous Previous
year
Amount Percent
year
Current assets
$300,390
%
$181,750
%
Property, plant, and equipment
Intangible assets
562,020
%
487,090
%
106,590
%
58,160
%
Transcribed Image Text:Vertical Analysis of Balance Sheet Balance sheet data for Kwan Company on December 31, the end of two recent fiscal years, follow: Current assets Property, plant, and equipment Intangible assets Current liabilities Long-term liabilities Common stock Retained earnings Current Year Previous Year $300,390 $181,750 562,020 487,090 106,590 58,160 193,800 109,050 358,530 283,530 106,590 94,510 310,080 239,910 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. Kwan Company Comparative Balance Sheet For the Years Ended December 31 Current year year Amount Percent Current Previous Previous year Amount Percent year Current assets $300,390 % $181,750 % Property, plant, and equipment Intangible assets 562,020 % 487,090 % 106,590 % 58,160 %
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