Question
Balance sheet data for Novak Company on December 31, the end of two recent fiscal years, follows: 1 Current Year Current Previous Year Previous 2
Balance sheet data for Novak Company on December 31, the end of two recent fiscal years, follows:
1 Current Year Current Previous Year Previous
2 Current assets $1,262,500.00 & $955,500.00
3 Property, plant, and equipment 2,878,500.00 & 3,185,000.00
4 Intangible assets 909,000.00 & 409,500.00
5 Current liabilities 858,500.00 & 728,000.00
6 Long-term liabilities 1,464,500.00 & 1,729,000.00
7 Common stock 505,000.00 & 455,000.00
8 Retained earnings 2,222,000.00 & 1,638,000.00
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. Need: Current Year Percent and Previous Year Percent.
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