Question
Balance sheet data for Alvarez Company on December 31, the end of two recent fiscal years, follow: 1 Current Year Previous Year 2 Current assets
Balance sheet data for Alvarez Company on December 31, the end of two recent fiscal years, follow:
1 |
| Current Year | Previous Year |
2 | Current assets | $1,637,500.00 | $1,210,000.00 |
3 | Property, plant, and equipment | 3,864,500.00 | 4,235,000.00 |
4 | Intangible assets | 1,048,000.00 | 605,000.00 |
5 | Current liabilities | 1,179,000.00 | 847,000.00 |
6 | Long-term liabilities | 1,768,500.00 | 1,996,500.00 |
7 | Common stock | 655,000.00 | 665,500.00 |
8 | Retained earnings | 2,947,500.00 | 2,541,000.00 |
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.
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