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ch17 4 Vertical Analysis of Balance Sheet Balance sheet data for Kwan Company on December 31, the end of two recent fiscal years, follow: Current
ch17 4
Vertical Analysis of Balance Sheet Balance sheet data for Kwan Company on December 31, the end of two recent fiscal years, follow: Current Year Previous Year $182,000 $310,720 553,470 516,880 Current assets Property, plant, and equipment , Intangible assets Current liabilities Long-term liabilities 106,810 29,120 131,040 213,620 378,690 291,200 Common stock 77,680 72,800 Retained earnings 301,010 232,960 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. Kwan Company Comparative Balance Sheet For the Years Ended December 31 Current Current year year Amount Percent Previous Previous year year Amount Percent Current assets $310,720 % $182,000 % Property, plant, and equipment 553,470 % % 516,880 29,120 Intangible assets 106,810 % % Total assets $971,000 % $728,000 % Current liabilities % $131,040 % $ $213,620 378,690 % 291,200 % Long-term liabilities Common stock 77,680 % 72,800 % Retained earnings 301,010 % 232,960 % % $728,000 Total liabilities and stockholders' equity $971,000 %Step by Step Solution
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