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 $1,300,000.00 $945,000.00 3 Property, plant, and equipment 3,000,000.00 3,150,000.00 4 Intangible assets 700,000.00 405,000.00 5 Current liabilities 1,000,000.00 720,000.00 6 Long-term liabilities 1,500,000.00 1,575,000.00 7 Common stock 500,000.00 495,000.00 8 Retained earnings 2,000,000.00 1,710,000.00 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. If required, round percentages to one decimal place.
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