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: Current Year $382,550 579,290 131,160 251,390 382,550 109,300 349,760 Previous Year Current assets Property, plant, and equipment Intangible assets Current liabilities Long-term liabilities Common stock Retained earnings 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 $237,800 524,800 57,400 139,400 303,400 98,400 278,800 total liabilities and stockholders' equity. If required, round percentages to one decimal place. Alvaraz Company For the Years Ended December 31 Current Current Previous Previous year year Amount Percent Amount Percent Current assets $382,550 579,290 131,160 $237,800 524,800 57,400 Property, plant, and equipment 2 more Check My Work uses remaining Previous Next 12

Explanation / Answer

Alvaraz Company Comparative Balance Sheet For the year ended December 31 Current year Current year Previous Year Previous Year Amount Percent Amount Percent Current Assets 382550 35 % 237800 29 % Property Plant & Equipment 579290 53 % 524800 64 % Intangible assets 131160 12 % 57400 7 % Total Asset 1093000 100 % 820000 100 % Current Liabilities 251390 23 % 139400 17 % Long Term Liabilities 382550 35 % 303400 37 % Common stock 109300 10 % 98400 12 % Retained earnings 349760 32 % 278800 34 % Total Liabilities & Stockholder's equity 1093000 100 % 820000 100 %

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