Question
Balance sheet data for Otter Creek Company on December 31, the end of the fiscal year, are shown below. 20Y2 20Y1 Current assets $700,000 $504,000
Balance sheet data for Otter Creek Company on December 31, the end of the fiscal year, are shown below. 20Y2 20Y1 Current assets $700,000 $504,000 Property, plant, and equipment 945,000 770,000 Intangible assets 105,000 126,000 Current liabilities 280,000 294,000 Long-term liabilities 595,000 560,000 Common stock 140,000 140,000 Retained earnings 735,000 406,000 Prepare a comparative balance sheet for 20Y2 and 20Y1, 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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