Common$-$Size Balance Sheets

Consider the following balance sheet data for Davis Co$.,$ Inc., an electronics and major appliance retailer $($amounts in thousands$)$:

Current Year Previous Year

Cash and Cash Equivalents $$60,872$ $$7,138$

Accounts Receivables $52,94437,968$

Merchandise Inventories $637,950249,991$

Other Current Assets $13,8449,729$

Total Current Assets $765,610304,826$

Property and Equipment $($net$)172,724126,442$

Other Assets $15,1607,774$

Total Assets $$953,494$ $$439,042$

Current Liabilities $$402,028$ $$186,005$

Long$-$Term liabilities $239,02270,854$

Total Liabilities $641,050256,859$

Common Stock $3,0871,149$

Additional Paid$-$in$-$Capital $224,089137,151$

Retained Earnings $85,26843,883$

Total Stockholders$$ Equity $312,444182,183$

Total Liabilities and Stockholders$$ Equity $$953,494$ $$439,042$

Prepare common$-$size balance sheets for each year $($use total assets as the base amount for computing percentages$).$

Instructions:

Round percentages to one decimal place $($ex: $0\mathrm{.}2345=23\mathrm{.}5\%).$

Compute percentages for each "Total" $($do not add prior percentage amounts to arrive at Totals$).$

DAVIS CO$.,$ INC.

Common$-$Size Balance Sheets

$($Percentage of Total Assets$)$

Current Year Common$-$

Size Previous Year Common$-$

Size

Assets

Current Assets

Cash and Cash Equivalents $$60,872$ $$7,138$

Accounts Receivables $52,94437,968$

Merchandise Inventories $637,950249,991$

Other Current Assets $13,8449,729$

Total Current Assets $765,610304,826$

Property and Equipment $($net$)172,724126,442$

Other Assets $15,1607,774$

Total Assets $$953,494$ $$439,042$

Liabilities

Current Liabilities $$402,028$ $$186,005$

Long$-$Term liabilities $239,02270,854$

Total Liabilities $641,050256,859$

Stockholders' Equity

Common Stock $3,0871,149$

Additional Paid$-$in$-$Capital $224,089137,151$

Retained Earnings $85,26843,883$

Total Stockholders$$ Equity $312,444182,183$

Total Liabilities and Stockholders$$ Equity $$953,494$ $$439,042$