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%

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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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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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