Balance sheet data for Alvarez Company on December 31, the end of two recent fiscal years, follow: Current Year Previous Year Current assets $2,800,000 $1,840,000 Property, plant, and equipment 5,200,000 6,072,000 Intangible assets 2,000,000 1,288,000 Current liabilities 1,800,000 1,380,000 Long-term liabilities Common stock 3,600,000 Retained earnings 980,000 3,620,000 3,680,000 920,000 3,220,000 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. When required, round percentages to one decimal place. Alvarez Company Comparative Balance Sheet For the Years Ended December 31 Current Current Previous Previous Line Item Description Year Amount Year Percent Year Amount Year Percent Current assets $2,800,000 1.5 X% $1,840,000 20.0 % Property, plant, and equipment 5,200,000 56 X % 6,072,000 66.0 % Intangible assets 2,000,000 19 X % 1,288,000 14.0 % Total assets $10,000,000 100.0 % $9,200,000 100.0 % Current liabilities $1,800,000 20.0 % $1,380,000 15.0 % Long-term liabilities Common stock 3,600,000 980,000 34.0 X% 3,680,000 40.0 % 9.2 X % 920,000 10.0 % Retained earnings 3,620,000 36.80 X % 3,220,000 35.0 % Total liabilities and stockholders' equity $10,000,000 100.0 % $9,200,000 100.0 %