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 $287,300 $171,180 Property, plant, and equipment 473,200 424,780 Intangible assets 84,500 38,040 Current liabilities 194,350 107,780 Long-term liabilities 304,200 240,920 Common stock 76,050 76,080 Retained earnings 270,400 209,220

Explanation / Answer

Alvaraz Company Comparative Balance Sheet For the Years Ended December 31 Current year Amount Current year Percent Previous year Amount Previous year Percent Current assets $287,300 34.0% $171,180 27.0% Property, plant, and equipment 473,200 56.0% 424,780 67.0% Intangible assets 84,500 10.0% 38,040 6.0% Total assets $845,000 100.0% $634,000 100.0% Current liabilities $194,350 23.0% $107,780 17.0% Long-term liabilities 304,200 36.0% 240,920 38.0% Common stock 76,050 9.0% 76,080 12.0% Retained earnings 270,400 32.0% 209,220 33.0% Total liabilities and stockholders' equity $845,000 100.0% $634,000 100.0%

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