Question

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

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

Current Year Previous Year
Current assets $300,560 $172,380
Property, plant, and equipment 477,360 437,580
Intangible assets 106,080 53,040
Current liabilities 194,480 119,340
Long-term liabilities 353,600 258,570
Common stock 79,560 86,190
Retained earnings 256,360 198,900

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 $300,560 % $172,380 %
Property, plant, and equipment 477,360 % 437,580 %
Intangible assets 106,080 % 53,040 %
Total assets $884,000 % $663,000 %
Current liabilities $194,480 % $119,340 %
Long-term liabilities 353,600 % 258,570 %
Common stock 79,560 % 86,190 %
Retained earnings 256,360 % 198,900 %
Total liabilities and stockholders' equity $884,000 % $663,000 %

Homework Answers

Answer #1
Alvaraz Company
Comparative Balance Sheet
For the Years Ended December 31
Current Current Previous Previous
year year year year
Amount Percent Amount Percent
Current assets $300,560 34.0% $172,380 26.0%
Property, plant, and equipment 477,360 54.0% 437,580 66.0%
Intangible assets 106,080 12.0% 53,040 8.0%
Total assets $884,000 100.0% $663,000 100.0%
Current liabilities $194,480 22.0% $119,340 18.0%
Long-term liabilities 353,600 40.0% 258,570 39.0%
Common stock 79,560 9.0% 86,190 13.0%
Retained earnings 256,360 29.0% 198,900 30.0%
Total liabilities and stockholders' equity $884,000 100.0% $663,000 100.0%
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