Balance sheet data for Kwan Company on December 31, the end of two recent fiscal years,...
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Balance sheet data for Kwan Company on December 31, the end of two recent fiscal years, follow: Current Year Previous Year Current assets $275,700 $165,360 Property, plant, and equipment 523,830 475,410 Intangible assets 119,470 48,230 Current liabilities 220,560 130,910 Long-term liabilities 321,650 241,150 Common stock Retained earnings 82,710 294,080 89,570 227,370 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. If required, round percentages to one decimal place. Kwan Company Comparative Balance Sheet For the Years Ended December 31 Current Current Previous Previous year year Amount Percent year year Amount Percent Current assets $275,700 % $165,360 % Property, plant, and equipment 523,830 % 475,410 % Intangible assets 119,470 % 48,230 % $919,000 Total assets % $689,000 % Current liabilities $220,560 $130,910 % Long-term liabilities 321,650 % 241,150 % Common stock 82,710 % 89,570 % Retained earnings 294,080 % 227,370 % Total liabilities and stockholders' equity $919,000 % $689,000 % Balance sheet data for Kwan Company on December 31, the end of two recent fiscal years, follow: Current Year Previous Year Current assets $275,700 $165,360 Property, plant, and equipment 523,830 475,410 Intangible assets 119,470 48,230 Current liabilities 220,560 130,910 Long-term liabilities 321,650 241,150 Common stock Retained earnings 82,710 294,080 89,570 227,370 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. If required, round percentages to one decimal place. Kwan Company Comparative Balance Sheet For the Years Ended December 31 Current Current Previous Previous year year Amount Percent year year Amount Percent Current assets $275,700 % $165,360 % Property, plant, and equipment 523,830 % 475,410 % Intangible assets 119,470 % 48,230 % $919,000 Total assets % $689,000 % Current liabilities $220,560 $130,910 % Long-term liabilities 321,650 % 241,150 % Common stock 82,710 % 89,570 % Retained earnings 294,080 % 227,370 % Total liabilities and stockholders' equity $919,000 % $689,000 %
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