Create a balance sheet with percentages

Agricultural Finance 130 Take-home Quiz (18 points) Financial Statements This assignment must be completed using Excel. Handwritten documents will not be accepted for credit. Deliverable: The completed assignment is due at the beginning of class on Tuesday, September 11.2018. Upload the completed Excel file to Blackboard. The filename must consist of the partners last names (e.g. BrandtGarrettGonzales.xls). Part I: Given the following financial information, construct a balance sheet and a common- sized balance sheet according to accounting protocols. (12 pts) Cash Gross fixed assets Other L-T assets Accounts payable Retained earnings Accumulated depreciation S 50,000 5,000 20,000 100,000 70,000 20,000 S 10,000 Accounts receivable 75,000 L-T bank note 15,000 Mortgage 40,000 Common stock 15,000 Inventories 20,000 S-T notes Part II: Using the completed common-sized balance sheet, explain the firm's debt structure, sources of asset financing, and working capital position. (6 pts)