Question 1 The 2013 and 2014 balance sheets for Ottoman Manufacturing Company ap

Question

Question 1

The 2013 and 2014 balance sheets for Ottoman Manufacturing Company appear below:

Prepare a common-size balance sheet for 2014. (Round common-size answers to 2 decimal places, e.g. 16.45%.)

2013 2014 Current Assets    Cash $16,250 $15,040    Accounts Receivable, net 18,820 20,170    Inventory 32,150 26,150 Total Current Assets 67,220 61,360 Plant & Equipment, net 63,300 42,820 Total Assets 130,520 104,180 Current Liabilities 18,490 30,650 Noncurrent Liabilities 58,660 36,100 Total Liabilities 77,150 66,750 Stockholders’ Equity    Common Stock 1,990 1,990    Additional Paid-In Capital 4,290 4,290    Retained Earnings 47,090 31,150 Total Stockholders’ Equity 53,370 37,430 Total liabilities and Stockholders’ Equity $130,520 $104,180 2014 Common-Size Accounts receivable, net Additional paid-in capital Cash Common stock Current assets Current liabilities Inventory Noncurrent liabilities Plant & equipment, net Retained earnings Stockholders' equity Total assets Total current assets Total liabilities Total liabilities and stockholders' equity Total stockholders' equity 0 0 0 0 0 0 0 0

Explanation / Answer

Ottoman Manufacturing Company Common Size Balance Sheet 2014 Common Size Current Assets Cash            15,040 14.44% Accounts Receivable, net            20,170 19.36% Inventory            26,150 25.10% Total Current Assets            61,360 58.90% Plant & Equipment, net            42,820 41.10% Total Assets          104,180 100.00% Current Liabilities            30,650 29.42% Noncurrent Liabilities            36,100 34.65% Total Liabilities            66,750 64.07% Stockholders' Equity Common Stock              1,990 1.91% Additional Paid-in Capital              4,290 4.12% Retained Earnings            31,150 29.90% Total Stockholders' Equity            37,430 35.93% Total Liabilities & Stockholders' Equity          104,180 100.00%

Related Questions

Navigate

• Browse (All)
• Browse Q
• Subjects

---

---

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