Balance sheet data for Novak Company on December 31, the end of two recent fiscal years, follows: 1 Current Year Previous Year 2 Current assets $1,495,000.00 $1,207,500.00 3 Property, plant, and equipment 3,565,000.00 3,622,500.00 4 Intangible assets 690,000.00 420,000.00 5 Current liabilities 1,150,000.00 892,500.00 6 Long-term liabilities 1,725,000.00 1,890,000.00 7 Common stock 575,000.00 420,000.00 8 Retained earnings 2,300,000.00 2,047,500.00 Prepare a comparative balance sheet for both years, stating each asset as a percent of total assets and each liability and stockholdersâ equity item as a percent of the total liabilities and stockholdersâ equity.
Balance sheet data for Novak Company on December 31, the end of two recent fiscal years, follows: 1 Current Year Previous Year 2 Current assets $1,495,000.00 $1,207,500.00 3 Property, plant, and equipment 3,565,000.00 3,622,500.00 4 Intangible assets 690,000.00 420,000.00 5 Current liabilities 1,150,000.00 892,500.00 6 Long-term liabilities 1,725,000.00 1,890,000.00 7 Common stock 575,000.00 420,000.00 8 Retained earnings 2,300,000.00 2,047,500.00 Prepare a comparative balance sheet for both years, stating each asset as a percent of total assets and each liability and stockholdersâ equity item as a percent of the total liabilities and stockholdersâ equity.
Related questions
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 | % |
Balance sheet data for Alvarez Company on December 31, the endof two recent fiscal years, follows:
| Current Year | Previous Year | |||
| Current assets | $326,120 | $205,140 | ||
| Property, plant, and equipment | 578,600 | 512,850 | ||
| Intangible assets | 147,280 | 71,010 | ||
| Current liabilities | 231,440 | 126,240 | ||
| Long-term liabilities | 431,320 | 355,050 | ||
| Common stock | 94,680 | 102,570 | ||
| Retained earnings | 294,560 | 205,140 | ||
Prepare a comparative balance sheet for both years, stating eachasset as a percent of total assets and each liability andstockholders' equity item as a percent of the total liabilities andstockholders' equity. If required, round percentages to one decimalplace.
| Alvaraz Company | ||||
| Comparative Balance Sheet | ||||
| Forthe Years Ended December 31 | ||||
| Current year Amount | Current year Percent | Previous year Amount | Previous year Percent | |
| Current assets | $326,120 | % | $205,140 | % |
| Property, plant, and equipment | 578,600 | % | 512,850 | % |
| Intangible assets | 147,280 | % | 71,010 | % |
| Total assets | $1,052,000 | % | $789,000 | % |
| Current liabilities | $231,440 | % | $126,240 | % |
| Long-term liabilities | 431,320 | % | 355,050 | % |
| Common stock | 94,680 | % | 102,570 | % |
| Retained earnings | 294,560 | % | 205,140 | % |
| Total liabilities and stockholders'equity | $1,052,000 | % | $789,000 | % |
