Assets 2020 2021 Current assets Cash $12,000 $ 17,775 Accounts receivable Inventory 12,750 50,250 16,425 56,925 Problem 3-13 Preparing Standardized Financial Statements [LO1] Just Dew It Corporation reports the following balance sheet information for 2020 and 2021. JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable 2020 2021 $ 46,875 $55,575 19,125 24,750 Total $ 75,000 $91,125 Total $ 66,000 $ 80,325 Long-term debt $30,000 $27,000 Owners' equity Common stock and paid-in surplus $ 45,000 $ 45,000 Retained earnings 234,000 297,675 Net plant and equipment $ 300,000 $ 358,875 Total $ 279,000 $ 342,675 $ $ Total assets $ 375,000 450,000 Total liabilities and owners' equity $375,000 450,000 Prepare the 2020 and 2021 common-size balance sheets for Just Dew It. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) Assets 2020 2021 % 96 Current assets Cash Accounts receivable 12,000 Inventory Total 12,750 50,250 $ 75,000 Fixed assets Net plant and equipment $ 300,000 % Total assets $ 375,000 % of je de je % $ 17,775 % % 16,425 % % % 56,925 % S9 91,125 % SS gege 358,875 % 450,000 % Liabilities and Owners' Equity Current liabilities Accounts payable 46,875 Notes payable 19,125 Total 66,000 Long-term debt $ 30,000 % $ 55,575 % % 24,750 % % $ 80,325 % % 27,000 % Owners' equity Common stock and paid-in surplus 45,000 Retained earnings 234,000 % 10 45,000 %6 % 297,675 % Total $ 279,000 % $ 342,675 % Total liabilities and owners' equity $375,000 % S 450,000 %