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 $273,600 $171,000
Property, plant, and equipment 528,960 458,280
Intangible assets 109,440 54,720
Current liabilities 209,760 109,440
Long-term liabilities 337,440 294,120
Common stock 91,200 88,920
Retained earnings 273,600 191,520

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 $273,600 % $171,000 %
Property, plant, and equipment 528,960 % 458,280 %
Intangible assets 109,440 % 54,720 %
Total assets $912,000 % $684,000 %
Current liabilities $209,760 % $109,440 %
Long-term liabilities 337,440 % 294,120 %
Common stock 91,200 % 88,920 %
Retained earnings 273,600 % 191,520 %
Total liabilities and stockholders' equity $912,000 % $684,000 %

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
A B=(A/912000)*100% C D=(C/684000)*100%
Current assets $273,600 30% $171,000 25%
Property, plant, and equipment 528,960 58% 458,280 67%
Intangible assets 109,440 12% 54,720 8%
Total assets $912,000 100% $684,000 100%
Current liabilities $209,760 23% $109,440 16%
Long-term liabilities 337,440 37% 294,120 43%
Common stock 91,200 10% 88,920 13%
Retained earnings 273,600 30% 191,520 28%
Total liabilities and stockholders' equity $912,000 100% $684,000 100%
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