Question
Balance sheet data for Novak Company on December 31, the end of two recent fiscal years, follows: 1 Current Year Previous Year 2 Current assets
Balance sheet data for Novak Company on December 31, the end of two recent fiscal years, follows:
1 |
| Current Year | Previous Year |
2 | Current assets | $1,742,000.00 | $1,302,000.00 |
3 | Property, plant, and equipment | 4,087,000.00 | 4,216,000.00 |
4 | Intangible assets | 871,000.00 | 682,000.00 |
5 | Current liabilities | 1,139,000.00 | 1,116,000.00 |
6 | Long-term liabilities | 1,742,000.00 | 1,984,000.00 |
7 | Common stock | 670,000.00 | 682,000.00 |
8 | Retained earnings | 3,149,000.00 | 2,418,000.00 |
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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