Wednesday, 30 October 2019

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

Balance sheet data for Alvarez Company on December 31, the end of two recent fiscal years, follows:
Current YearPrevious Year
Current assets$338,640$216,630
Property, plant, and equipment547,800493,020
Intangible assets109,56037,350
Current liabilities229,080134,460
Long-term liabilities368,520276,390
Common stock119,520119,520
Retained earnings278,880216,630
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$338,640%$216,630%
Property, plant, and equipment547,800%493,020%
Intangible assets109,560%37,350%
Total assets$996,000%$747,000%
Current liabilities$229,080%$134,460%
Long-term liabilities368,520%276,390%
Common stock119,520%119,520%
Retained earnings278,880%216,630%
Total liabilities and stockholders' equity$996,000%$747,000

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