Vertical Analysis of Balance Sheets Consolidated balance sheets for Winged Manufacturing follow. Winged Manufacturing Consolidated Balance Sheets (dollars in thousands)   December 31 ASSETS 2023 2023 Current assets: Cash and cash equivalents $1,203,488   $676,413   Short-term investments 54,368   215,890   Accounts receivable, net of allowance for doubtful accounts of $90,992 ($83,776 in 2022) 1,581,347   1,381,946   Inventories 1,088,434   1,506,638   Deferred tax assets 293,048   268,085   Other current assets 255,767   289,383   Total current assets $4,476,452   $4,338,355   Property, plant, and equipment: Land and buildings $484,592   $404,688   Machinery and equipment 572,728   578,272   Office furniture and equipment 158,160   167,905   Leasehold improvements 236,708   261,792     $1,452,188   $1,412,657   Accumulated depreciation and amortization (785,088)   (753,111)   Net property, plant, and equipment $667,100   $659,546   Other assets 159,194   173,511   Total assets $5,302,746   $5,171,412   LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Short-term borrowings $292,200   $823,182   Accounts payable 881,717   742,622   Accrued compensation and employee benefits 136,895   144,779   Accrued marketing and distribution 178,294   174,547   Accrued restructuring costs 58,238   307,932   Other current liabilities 396,961   315,023   Total current liabilities $1,944,305   $2,508,085   Long-term debt 304,472   7,117   Deferred tax liabilities 670,668   629,832   Total liabilities $2,919,445   $3,145,034   Stockholders’ equity: Common stock, no par value: 320,000,000 shares authorized; 119,542,527 shares issued and outstanding in 2023 (116,147,035 shares in 2022) $297,929   $203,613   Retained earnings 2,096,206   1,842,600   Accumulated translation adjustment (10,834)   (19,835)   Total stockholders’ equity $2,383,301   $2,026,378   Total liabilities and stockholders’ equity $5,302,746   $5,171,412     Required: Question Content Area 1.  Prepare common size balance sheets for vertical analysis. Enter your answers in percentage terms, rounded to two decimal places, and do not include the "%" sign with your answer. For example, "100.00" or "28.72". For those boxes in which underlying dollar amount is shown as negative, use a minus sign. You do not need to include the actual dollar amounts shown above. Winged ManufacturingConsolidated Balance Sheets    December 31, 2023 December 31, 2022 Current assets:     Cash and cash equivalents fill in the blank 4345af08e053f8c_1% fill in the blank 4345af08e053f8c_2% Short-term investments fill in the blank 4345af08e053f8c_3% fill in the blank 4345af08e053f8c_4% Accounts receivable, net of allowance for doubtful accounts of $90,992 ($83,776 in 2022) fill in the blank 4345af08e053f8c_5% fill in the blank 4345af08e053f8c_6% Inventories fill in the blank 4345af08e053f8c_7% fill in the blank 4345af08e053f8c_8% Deferred tax assets fill in the blank 4345af08e053f8c_9% fill in the blank 4345af08e053f8c_10% Other current assets fill in the blank 4345af08e053f8c_11% fill in the blank 4345af08e053f8c_12% Total current assets fill in the blank 4345af08e053f8c_13% fill in the blank 4345af08e053f8c_14%

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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Vertical Analysis of Balance Sheets

Consolidated balance sheets for Winged Manufacturing follow.

Winged Manufacturing
Consolidated Balance Sheets
(dollars in thousands)
  December 31
ASSETS 2023 2023
Current assets:
Cash and cash equivalents $1,203,488   $676,413  
Short-term investments 54,368   215,890  
Accounts receivable, net of allowance for doubtful accounts
of $90,992 ($83,776 in 2022)
1,581,347   1,381,946  
Inventories 1,088,434   1,506,638  
Deferred tax assets 293,048   268,085  
Other current assets 255,767   289,383  
Total current assets $4,476,452   $4,338,355  
Property, plant, and equipment:
Land and buildings $484,592   $404,688  
Machinery and equipment 572,728   578,272  
Office furniture and equipment 158,160   167,905  
Leasehold improvements 236,708   261,792  
  $1,452,188   $1,412,657  
Accumulated depreciation and amortization (785,088)   (753,111)  
Net property, plant, and equipment $667,100   $659,546  
Other assets 159,194   173,511  
Total assets $5,302,746   $5,171,412  
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Short-term borrowings $292,200   $823,182  
Accounts payable 881,717   742,622  
Accrued compensation and employee benefits 136,895   144,779  
Accrued marketing and distribution 178,294   174,547  
Accrued restructuring costs 58,238   307,932  
Other current liabilities 396,961   315,023  
Total current liabilities $1,944,305   $2,508,085  
Long-term debt 304,472   7,117  
Deferred tax liabilities 670,668   629,832  
Total liabilities $2,919,445   $3,145,034  
Stockholders’ equity:
Common stock, no par value: 320,000,000 shares authorized; 119,542,527 shares
issued and outstanding in 2023 (116,147,035 shares in 2022)
$297,929   $203,613  
Retained earnings 2,096,206   1,842,600  
Accumulated translation adjustment (10,834)   (19,835)  
Total stockholders’ equity $2,383,301   $2,026,378  
Total liabilities and stockholders’ equity $5,302,746   $5,171,412  

 

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Question Content Area

1.  Prepare common size balance sheets for vertical analysis. Enter your answers in percentage terms, rounded to two decimal places, and do not include the "%" sign with your answer. For example, "100.00" or "28.72". For those boxes in which underlying dollar amount is shown as negative, use a minus sign. You do not need to include the actual dollar amounts shown above.

Winged ManufacturingConsolidated Balance Sheets 
  December 31, 2023 December 31, 2022
Current assets:    
Cash and cash equivalents fill in the blank 4345af08e053f8c_1% fill in the blank 4345af08e053f8c_2%
Short-term investments fill in the blank 4345af08e053f8c_3% fill in the blank 4345af08e053f8c_4%
Accounts receivable, net of allowance for doubtful accounts of $90,992 ($83,776 in 2022) fill in the blank 4345af08e053f8c_5% fill in the blank 4345af08e053f8c_6%
Inventories fill in the blank 4345af08e053f8c_7% fill in the blank 4345af08e053f8c_8%
Deferred tax assets fill in the blank 4345af08e053f8c_9% fill in the blank 4345af08e053f8c_10%
Other current assets fill in the blank 4345af08e053f8c_11% fill in the blank 4345af08e053f8c_12%
Total current assets fill in the blank 4345af08e053f8c_13% fill in the blank 4345af08e053f8c_14%
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