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 | $1,536,000.00 | $1,239,000.00 |
3 | Property, plant, and equipment | 3,968,000.00 | 3,835,000.00 |
4 | Intangible assets | 896,000.00 | 826,000.00 |
5 | Current liabilities | 1,152,000.00 | 826,000.00 |
6 | Long-term liabilities | 1,792,000.00 | 1,947,000.00 |
7 | Common stock | 640,000.00 | 649,000.00 |
8 | Retained earnings | 2,816,000.00 | 2,478,000.00 |
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.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started