Question

Balance sheet data for Alvarez Company on December 31, the end of two recent fiscal years, follows:

	Current Year		Previous Year
Current assets	$287,300		$171,180
Property, plant, and equipment	473,200		424,780
Intangible assets	84,500		38,040
Current liabilities	194,350		107,780
Long-term liabilities	304,200		240,920
Common stock	76,050		76,080
Retained earnings	270,400		209,220

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 total liabilities and stockholders' equity. If required, round percentages to one decimal place.

Alvaraz Company
Comparative Balance Sheet
For the Years Ended December 31
	Current year Amount	Current year Percent	Previous year Amount	Previous year Percent
Current assets	$287,300	%	$171,180	%
Property, plant, and equipment	473,200	%	424,780	%
Intangible assets	84,500	%	38,040	%
Total assets	$845,000	%	$634,000	%
Current liabilities	$194,350	%	$107,780	%
Long-term liabilities	304,200	%	240,920	%
Common stock	76,050	%	76,080	%
Retained earnings	270,400	%	209,220	%
Total liabilities and stockholders' equity	$845,000	%	$634,000	%

Answer 1

Alvaraz Company
Comparative Balance Sheet
For the Years Ended December 31
	Current year Amount	Current year Percent	Previous year Amount	Previous year Percent
Current assets	$287,300	34.0%	$171,180	27.0%
Property, plant, and equipment	473,200	56.0%	424,780	67.0%
Intangible assets	84,500	10.0%	38,040	6.0%
Total assets	$845,000	100.0%	$634,000	100.0%
Current liabilities	$194,350	23.0%	$107,780	17.0%
Long-term liabilities	304,200	36.0%	240,920	38.0%
Common stock	76,050	9.0%	76,080	12.0%
Retained earnings	270,400	32.0%	209,220	33.0%
Total liabilities and stockholders' equity	$845,000	100.0%	$634,000	100.0%