In addition to common-size financial statements, common-base year financial statements are often used. Common-base year financial statements are constructed by dividing the current year account value by the base year account value. Thus, the result shows the growth rate in the account. Using the following financial statements, construct the common-size balance sheet and common-base year balance sheet for the company. . Use 2011 as the base year. Jarrow Corporation 2011 & 2012 Balance sheets ASSETS 2011 2012 LIABILITIES & OWNERS' EQUITY 2011 2012 Current assets Current liabilities cash $8014 $9,954 Accounts payable $40,898 $45,884 Accounts receivable 20,453 22,937 Notes payable 17,464 17,035 Inventory 36,822 41,797 Total $58,362 $62,919 Total $65,289 $74,688 Long-term debt $24,000 $31,000 Fixed assets Owners' equity Net plant & equipmt $215,370 $243,340 Common stock & paid-in surplus $38,000 $39,200 Retained earnings 160,297 184,909 Total $198,297 $224,109 Total Assets $280,659 $318,028 Total liabilities and owners' equity $280,659 $318,028