Balance sheet data for Alvarez Company on December 31, the end of two recent fis

Question

Balance sheet data for Alvarez Company on December 31, the end of two recent fiscal years, follows:

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.

Current Year Previous Year Current assets $326,120 $205,140 Property, plant, and equipment 578,600 512,850 Intangible assets 147,280 71,010 Current liabilities 231,440 126,240 Long-term liabilities 431,320 355,050 Common stock 94,680 102,570 Retained earnings 294,560 205,140

Explanation / Answer

Alvaraz Company Comparative Balance Sheet For the Years Ended December 31 Current Current Previous Previous year year year year Amount Percent Amount Percent Current assets [Current Asset/Total Asset*100] $326,120 31.00% $205,140 26.0% Property, plant, and equipment [PPE/Total Asset*100] 578,600 55.00% 512,850 65.0% Intangible assets [Intangibles Asset/Total Asset*100] 147,280 14.00% 71,010 9.0% Total assets $1,052,000 100.00% $789,000 100.0% Current liabilities [Current Liabilities/Total Liab. And stock. equity*100] $231,440 22.00% $126,240 16.0% Long-term liabilities [Long term Liabilities/Total Liab. And stock. equity*100] 431,320 41.00% 355,050 45.0% Common stock [Common Stock/Total Liab. And stock. equity*100] 94,680 9.00% 102,570 13.0% Retained earnings [Retained/Total Liab. And stock. equity*100] 294,560 28.00% 205,140 26.0% Total liabilities and stockholders' equity $1,052,000 100.00% $789,000 100.0%

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