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.

Prepare the common-size balance sheet and common-base-year balance sheet for the company. Use 2013 as the base year.(Do not round intermediate calculations. Enter all common-size answers as a percent. 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).)

JARROW CORPORATION2013Common-size2014Common-sizeCommon-base yearAssetsCurrent assetsCash$8,064%$10,004%Accounts receivable20,553%23,037%Inventory36,922%41,897%Total$65,539%$74,938%Fixed assetsNet plant and equipment$215,470%$243,440%Total assets$281,009%$318,378%Liabilities and Owners' EquityCurrent liabilitiesAccounts payable$40,998%$45,984%Notes payable17,564%17,135%Total$58,562%$63,119%Long-term debt$24,100%$31,100%Owners' equityCommon stock and paid-in surplus$38,100%$39,300%Accumulated retained earnings160,247%184,859%Total$198,347%$224,159%Total liabilities and owners' equity$281,009%$318,378%

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