Use this balance sheet and income statement from Carver Enterprises to complete
ID: 2728213 • Letter: U
Question
Use this balance sheet and income statement from Carver Enterprises to complete parts a and b: a. (15 points) Prepare a common size balance sheet for Carver Enterprises. Complete the common-size balance sheet: (Round to one decimal place.) CommonSize Balance Sheet 2013 Cash and marketable securities $ 490 % Accounts receivable 5,990 Inventories 9,550 Current assets $ 16,030 % Net property plant and equipment 17,030 Total assets $ 33,060 % Accounts payable $ 7,220 % Shortterm debt 6,800 Current liabilities $ 14,020 % Longterm liabilities 7,010 Total liabilities $ 21,030 % Total owners’ equity 12,030 Total liabilities and owners’ equity $ 33,060 %
Explanation / Answer
Balance Sheet
as on December 31, 2013
Carver Enterprises
Current Assets
($)
Cash and marketable securities
$ 490
Account Receivables
$ 5,990
Inventory
$ 9,550
Total current assets (A)
$ 16,030
Fixed Assets
Net property plant and equipment
$ 17,030
Total fixed assets (B)
$ 17,030
Total Assets (A)+(B)
$ 33,060
Current Liabilities
Account payables
$ 7,220
Short-term debt
$ 6,800
Total current liabilities
$ 14,020
Long-term liabilities
$ 7,010
Total liabilities
$ 21,030
Shareholder's equity
$ 12,030
Total Liabilities and equity
$ 33,060
Balance Sheet
as on December 31, 2013
Carver Enterprises
Current Assets
($)
Cash and marketable securities
$ 490
Account Receivables
$ 5,990
Inventory
$ 9,550
Total current assets (A)
$ 16,030
Fixed Assets
Net property plant and equipment
$ 17,030
Total fixed assets (B)
$ 17,030
Total Assets (A)+(B)
$ 33,060
Current Liabilities
Account payables
$ 7,220
Short-term debt
$ 6,800
Total current liabilities
$ 14,020
Long-term liabilities
$ 7,010
Total liabilities
$ 21,030
Shareholder's equity
$ 12,030
Total Liabilities and equity
$ 33,060
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