Balance Sheet Cash and Marketable Securities 490 Accounts Receivable 5990 Invent
ID: 2767598 • Letter: B
Question
Balance Sheet
Cash and Marketable Securities 490
Accounts Receivable 5990
Inventories 9550
Current Assets 16030
Net property and equipment 17030
Total assets 33060
Accounts Payable 7220
Short-term debt 6800
Current Liabilities 14020
Long-term Liabilities 7010
Total Liabilities 21030
Total Owner's Equity 12030
Total equity/Liability 33060
Income Statement
Revenues 30020
COGS -19950
Gross Profit 10070
Operating Expense -7960
Net operating income 2110
Interest Expense -940
Earning Before Taxes 1170
Taxes -425 Net Income 745
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 %
Question 1. (30 points total) Use this balance sheet and income statement from Carver Enterprises to complete part a Question 1. (30 points total)
a. Complete the common-size balance sheet: (Round to one decimal place.)
Explanation / Answer
CARVER ENTERPRISES Common size balance sheet Amount % Cash & Marketable Securities $ 490.00 1.5 Accounts Receivable $ 5,990.00 18.1 Inventories $ 9,550.00 28.9 Current Asset $ 16,030.00 48.5 Net Property plant & Equipment $ 17,030.00 51.5 Total Assets $ 33,060.00 100.0 Accounts Payable $ 7,220.00 $ 21.84 Short term debt $ 6,800.00 $ 20.57 Current Liabilities $ 14,020.00 $ 42.41 Long Term Liabilities $ 7,010.00 $ 21.20 Total Liabilities $ 21,030.00 $ 63.61 Total Owner's Equity $ 12,030.00 $ 36.39 Total Liabilites & Owner's Equity $ 33,060.00 $ 100.00
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