Question
Current assets Cash Accounts receivable Inventory Assets 2017 2018 JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2017 2018
Current assets Cash Accounts receivable Inventory Assets 2017 2018 JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2017 2018 $ 12,000 12,750 $ 17,775 Current liabilities Accounts payable $ 46,875 50,250 16,425 56,925 Notes payable 19,125 $ 55,575 24,750 Total $ 75,000 $ 91,125 Total $ 66,000 $ 80,325 Long-term debt $ 30,000 $ 27,000 Owners' equity Common stock and paid-in $ 45,000 $ 45,000 surplus Retained earnings 234,000 297,675 Net plant and equipment $300,000 $358,875 Total $279,000 $342,675 Total liabilities and owners' Total assets $375,000 $450,000 $375,000 $450,000 equity Prepare the 2018 common-base year balance sheet for Just Dew It. (Do not round Intermediate calculations and round your answers to 4 decimal places, e.g., 32.1616.) 2017 2018 Assets Current assets Cash Accounts receivable Inventory Total $ 12,000 $ 17,775 12,750 16,425 50,250 56,925 $ 75,000 $ 91,125 Fixed assets Net plant and equipment $ 300,000 $ 358,875 Total assets $ 375,000 $ 450,000 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total Long-term debt $ 46,875 $ 55,575 $ 19,125 $ 24,750 $ 66,000 $ 80,325 $ 30,000 $ 27,000 Owners' equity Common stock and paid-in surplus $ 45,000 $ 45,000 Accumulated retained earnings Total 234,000 297,675 $ 279,000 $ 342,675 Total liabilities and owners' equity $ 375,000 $ 450,000
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