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 $300,560 $172,380 Property, plant, and equipment 477,360 437,580 Intangible assets 106,080 53,040 Current liabilities 194,480 119,340 Long-term liabilities 353,600 258,570 Common stock 79,560 86,190 Retained earnings 256,360 198,900

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 $300,560 34.0% $172,380 26.0% Property, plant, and equipment 477,360 54.0% 437,580 66.0% Intangible assets 106,080 12.0% 53,040 8.0% Total assets $884,000 100.0% $663,000 100.0% Current liabilities $194,480 22.0% $119,340 18.0% Long-term liabilities 353,600 40.0% 258,570 39.0% Common stock 79,560 9.0% 86,190 13.0% Retained earnings 256,360 29.0% 198,900 30.0% Total liabilities and stockholders' equity $884,000 100.0% $663,000 100.0%

Related Questions

Navigate

• Browse (All)
• Browse B
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.