Thank you in advance! Not sure how to do this myself, any help would be great! :

Question

Thank you in advance! Not sure how to do this myself, any help would be great! :)

JUST DEW IT CORPORATION 2014 and 2015 Balance Sheets Assets Liabilities and Owners' Equity 2014 2014 2015 2015 Current assets Current liabilities $ 7,050 25,050 55,650 $ 40,600 21,800 $ 34,500 Cash Accounts receivable Inventory $ 10,600 28,800 72,200 Accounts payable Notes payable $ 55,650 $ 36,000 $48,000 62,400 $ 33,000 $ 48,000 Total $87,750 $111,600 Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings 160,350 $208,350 $300,000 256,600 $304,600 $400,000 Net plant and equipment $212,250 $288,400 Total Total assets $300,000 $400,000 Total liabilities and owners' equity repare the 2014 and 2015 common-size balance sheets for Just Dew It. (Do not round intermediate alculations. Enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) 2014 2015 Assets Current assets Cash Accounts receivable Inventory $ 7,050 25,050 55,650 .13% $10,600 % 28,800 % 72,200 Total $87,750 % $111,600 Fixed assets Net plant and equipment $212,250 % $288,400 Total assets $300,000 % $400,000 Liabilities and Owners' Equity Current liabilities $34,500 % $40,600 Accounts payable Notes payable 21,150 % 21,800 Total Long-term debt Owners' equity 55,650 % $62,400 $ 36,000 % $33,000 $ 48,000 % $48,000 Common stock and paid-in surplus Accumulated retained earnings 160,350 $ 208,350 $ 300,000 % 256,600 % $304,600 % $400,000 Total Total liabilities and owners' equity

Explanation / Answer

2014 and 2015 Common size balance sheet for Just Dew It 2014 2015 Assets Current Assets Cash $7,050.00 2% $10,600.00 3% Accounts Receivable $25,050.00 8% $28,800.00 7% Inventory $55,650.00 19% $72,200.00 18% Total $87,750.00 29% $111,600.00 28% Fixed Assets Net Plant and Equipment $212,250.00 71% $288,400.00 72% Total Assets $300,000.00 100% $400,000.00 100% Liabilities and Owner's Equity Current Liabilities Accounts Payable $34,500.00 12% $40,600.00 10% Notes Payable $21,150.00 7% $21,800.00 5% Total $55,650.00 19% $62,400.00 16% Long Term Debt $36,000.00 12% $33,000.00 8% Owner's Equity Common stock and paid in surplus $48,000.00 16% $48,000.00 12% Accumulated Retained Earnings $160,350.00 53% $256,600.00 64% Total $208,350.00 69% $304,600.00 76% Total Liabilities and Owner's Equity $300,000.00 100% $400,000.00 100%

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