Vertical Analysis of Balance Sheet Balance sheet data for Kwan Company on December 31, the end of two recent fiscal years, follow: Current Year Previous Year Current assets $315,890 $183,360 Property, plant, and equipment 580,830 519,520 Intangible assets 122,280 61,120 Current liabilities 244,560 152,800 Long-term liabilities 387,220 313,240 Common stock 101,900 91,680 Retained earnings 285,320 206,280 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 Amount Current year Percent Previous year Amount Previous year Percent Current assets $315,890 fill in the blank 1% $183,360 fill in the blank 2% Property, plant, and equipment 580,830 fill in the blank 3% 519,520 fill in the blank 4% Intangible assets 122,280 fill in the blank 5% 61,120 fill in the blank 6% Total assets $1,019,000 fill in the blank 7% $764,000 fill in the blank 8% Current liabilities $244,560 fill in the blank 9% $152,800 fill in the blank 10% Long-term liabilities 387,220 fill in the blank 11% 313,240 fill in the blank 12% Common stock 101,900 fill in the blank 13% 91,680 fill in the blank 14% Retained earnings 285,320 fill in the blank 15% 206,280 fill in the blank 16% Total liabilities and stockholders' equity $1,019,000 fill in the blank 17% $764,000 fill in the blank 18%
Vertical Analysis of Balance Sheet Balance sheet data for Kwan Company on December 31, the end of two recent fiscal years, follow: Current Year Previous Year Current assets $315,890 $183,360 Property, plant, and equipment 580,830 519,520 Intangible assets 122,280 61,120 Current liabilities 244,560 152,800 Long-term liabilities 387,220 313,240 Common stock 101,900 91,680 Retained earnings 285,320 206,280 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 Amount Current year Percent Previous year Amount Previous year Percent Current assets $315,890 fill in the blank 1% $183,360 fill in the blank 2% Property, plant, and equipment 580,830 fill in the blank 3% 519,520 fill in the blank 4% Intangible assets 122,280 fill in the blank 5% 61,120 fill in the blank 6% Total assets $1,019,000 fill in the blank 7% $764,000 fill in the blank 8% Current liabilities $244,560 fill in the blank 9% $152,800 fill in the blank 10% Long-term liabilities 387,220 fill in the blank 11% 313,240 fill in the blank 12% Common stock 101,900 fill in the blank 13% 91,680 fill in the blank 14% Retained earnings 285,320 fill in the blank 15% 206,280 fill in the blank 16% Total liabilities and stockholders' equity $1,019,000 fill in the blank 17% $764,000 fill in the blank 18%
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Vertical Analysis of
Balance sheet data for Kwan Company on December 31, the end of two recent fiscal years, follow:
Current Year | Previous Year | |||
Current assets | $315,890 | $183,360 | ||
Property, plant, and equipment | 580,830 | 519,520 | ||
Intangible assets | 122,280 | 61,120 | ||
Current liabilities | 244,560 | 152,800 | ||
Long-term liabilities | 387,220 | 313,240 | ||
Common stock | 101,900 | 91,680 | ||
285,320 | 206,280 |
Prepare a comparative balance sheet for both years, stating each asset as a percent of total assets and each liability and
Kwan Company | ||||
Comparative Balance Sheet | ||||
For the Years Ended December 31 | ||||
Current year Amount |
Current year Percent |
Previous year Amount |
Previous year Percent |
|
Current assets | $315,890 | fill in the blank 1% | $183,360 | fill in the blank 2% |
Property, plant, and equipment | 580,830 | fill in the blank 3% | 519,520 | fill in the blank 4% |
Intangible assets | 122,280 | fill in the blank 5% | 61,120 | fill in the blank 6% |
Total assets | $1,019,000 | fill in the blank 7% | $764,000 | fill in the blank 8% |
Current liabilities | $244,560 | fill in the blank 9% | $152,800 | fill in the blank 10% |
Long-term liabilities | 387,220 | fill in the blank 11% | 313,240 | fill in the blank 12% |
Common stock | 101,900 | fill in the blank 13% | 91,680 | fill in the blank 14% |
Retained earnings | 285,320 | fill in the blank 15% | 206,280 | fill in the blank 16% |
Total liabilities and stockholders' equity | $1,019,000 | fill in the blank 17% | $764,000 | fill in the blank 18% |
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education