Look at the balance sheet shown in Exhibit 2.3. Redo that balance sheet in the more traditional

Question:

Look at the balance sheet shown in Exhibit 2.3. Redo that balance sheet in the more traditional format used by Leon’s. How does your statement differ from the one prepared by the company? Which statement is more informative? Should it make any difference to stakeholders how the balance sheet is formatted? Explain.

Stakeholders
A person, group or organization that has interest or concern in an organization. Stakeholders can affect or be affected by the organization's actions, objectives and policies. Some examples of key stakeholders are creditors, directors, employees,... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...