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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
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. |
Construct the common-size balance sheet and common-base year balance sheet for the company. Use 2020 as the base year. (Do not round intermediate calculations. Enter your common-size answers as a percent and your common-base year answers as a times. Round your common-sizeanswers to 2 decimal places, e.g., 32.16, and common-base year answers to 4 decimal places, e.g., 32.1616.) |