can you guys explain it to me step by step, please

Problem 3-13 Preparing Standardized Financial Statements (L01) 909 points Just Dew It Corporation reports the following balance sheet information for 2020 and 2021 JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets Assets 2020 2021 Liabilities and Owners' Equity 2020 2021 Current assets Current liabilities Cash $ 11,000 $14.250 Accounts payable $ 54,000 $ 63,750 Accounts receivable 27000 36,750 Notes payable 14,800 20,500 Inventory 75,000 96,250 Total $ 113,000 S 147.250 Total $ 68,800 $ 84,250 Long-term debt $ 50,000 $ 40.000 Owners' equity Common stock and pald-in surplus $ 55,000 $ 55,000 Retained earnings 226,200 320,750 Net plant and equipment $ 287,000 $ 352,750 Total $ 281,200 375,750 Total assets 400.000 500.000 Total liabilities and owners' equity 400.000 500.000 Prepare the 2020 and 2021 common-size balance sheets for Just Dew it. (Do not round Intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) Answer is not complete. 2020 % 2021 $ 36.00 % % 11.000 27,000 75,000 113.000 ell 14.250 36.750 96 250 147.250 % % RRE $ s s % 95 vu 287.000 400,000 ** $ 352,750 $ 500,000 % % Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total Long-lordet Owners equity Common stock and paid in surplus Retained coming Total Totales and owners out $ $ % 54,000 14,800 68,800 50,000 % % % %6 63.750 20,500 34.250 40,000 $ $ % . $ 55,000 226,200 $ 281,200 5 400.000 % AR $ 55.000 320.750 $ 375 750 500.000 **