Compute the amount and percentage changes for the following balance sheets, and comment on the changes from 20x6 to 20x7. (Round the percentage changes to one decimal place.)

Transcribed Image Text:

Davis Company Comparative Balance Sheets December 31, 20x7 and 20x6 20x7 20x6 Assets Current assets $ 18,600 $ 12,800 Property, plant, and equipment (net) 109,464 97,200 Total assets $128,064 $110,000 Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Stockholders' equity Total liabilities and stockholders' equity $ 11,200 $ 3,200 35,000 40,000 81,864 66,800 $128,064 $110,000