Suppose the comparative balance sheets of Splish Brothers Inc. are presented her
ID: 2397595 • Letter: S
Question
Suppose the comparative balance sheets of Splish Brothers Inc. are presented here. SPLISH BROTHERS INC. Condensed Balance Sheet May 31 ($ in millions) 2017 2016 Assets Current Assets $9,580 $8,770 Property, plant, and equipment (net) 1,810 1,800 Other assets 1,540 1,670 Total assets $12,930 $12,240 Liabilities and Stockholders' Equity Current Liabilities $3,150 $3,320 Long-term liabilities 1,320 1,370 Stockholders’ equity 8,460 7,550 Total liabilities and stockholders' equit $12,930 $12,240 (b) Prepare a vertical analysis of the balance sheet data for Splish Brothers for 2017.
$ (in millions)
Percent
Assets
Current Assets
$9,580
%
Property, plant, and equipment (net)
1,810
%
Other assets
1,540
%
Total assets
$12,930
%
Liabilities and Stockholders' Equity
Current Liabilities
$3,150
%
Long-term Liabilities
1,320
%
Stockholders’ equity
8,460
%
Total liabilities and stockholders' equity
$12,930
SPLISH BROTHERS INC.Condensed Balance Sheet
May 31, 2017For the Month Ended May 31, 2017For the Year Ended May 31, 2017
$ (in millions)
Percent
Assets
Current Assets
$9,580
%
Property, plant, and equipment (net)
1,810
%
Other assets
1,540
%
Total assets
$12,930
%
Liabilities and Stockholders' Equity
Current Liabilities
$3,150
%
Long-term Liabilities
1,320
%
Stockholders’ equity
8,460
%
Total liabilities and stockholders' equity
$12,930
Explanation / Answer
Vertical Analysis of the Balance Sheet data for SPLISH BROTHERS INC.
SPLISH BROTHERS INC.
Condensed Balance Sheet, May 31
$ ( In Millions)
Percent
Assets
Current Assets
9,580
74.1%
Property, Plant and Equipment
1,810
14%
Other Assets
1,540
11.9%
Total Assets
12,930
100%
Liabilities and Stockholders Equity
Current Liabilities
3,150
24.4%
Long term Liabilities
1,320
10.2%
Stockholders Equity
8,460
65.4%
Total Liabilities and Stockholders Equity
12,930
100%
SPLISH BROTHERS INC.
Condensed Balance Sheet, May 31
$ ( In Millions)
Percent
Assets
Current Assets
9,580
74.1%
Property, Plant and Equipment
1,810
14%
Other Assets
1,540
11.9%
Total Assets
12,930
100%
Liabilities and Stockholders Equity
Current Liabilities
3,150
24.4%
Long term Liabilities
1,320
10.2%
Stockholders Equity
8,460
65.4%
Total Liabilities and Stockholders Equity
12,930
100%
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