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Just Dew It Corporation reports the following balance sheet information for 2020 and 2021. JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets 2021
Just Dew It Corporation reports the following balance sheet information for 2020 and 2021. JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets 2021 Liabilities and Owners' Equity Current liabilities Assets 2020 Current assets Cash $14,588 $17,631 Accounts payable Accounts receivable Inventory 35,258 65,567 71,505 41,019 Notes payable Total $ 115,413 $130,155 Total Long-term debt Owners' equity 2020 2021 $55,653 $ 63,073 21,895 25,324 $77,548 $88,397 $ 58,000 $ 62,000 Common stock and paid-in surplus $60,000 $60,000 Retained earnings Net plant and equipment $477,413 $498,421 Total Total assets 592,826 $628,576 Total liabilities and owners' equity 397,278 418,179 $ 457,278 $478,179 $ 592,826 628,576 Prepare the 2020 and 2021 common-size balance sheets for Just Dew It. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) Prepare the 2020 and 2021 common-size balance sheets for Just Dew It. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) Assets 2020 % 2021 % Current assets Cash Accounts receivable Inventory $ 14,588 % $ 17,631 % 35,258 % 41,019 % 65,567 % 71,505 % Total $ 115,413 % $ 130,155 % Fixed assets Net plant and equipment $ 477,413 % $ 498,421 % Total assets $ 592,826 % $ 628,576 % Liabilities and Owners' Equity Current liabilities Accounts payable $ 55,653 % $ 63,073 % Notes payable 21,895 % 25,324 % Total 77,548 % $ 88,397 % Long-term debt $ 58,000 % $ 62,000 % Owners' equity Common stock and paid-in surplus $ 60,000 % $ 60,000 % Accumulated retained eamings 397,278 % 418,179 % Total $ 457,278 % $ 478,179 % Total liabilities and owners' equity $ 592,286 % $ 628,576 96
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