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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 Liabilities
Just Dew It Corporation reports the following balance sheet information for 2020 and 2021. JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Assets 2020 2021 Current assets Cash Accounts receivable Inventory $11,000 $ 14,250 27,000 36,750 75,000 96,250 Total $113,000 $147,250 Total Long-term debt Owners' equity 2020 2021 $ 54,000 $63,750 14,800 20,500 $ 68,800 $ 84,250 $50,000 $40,000 Common stock and paid-in surplus $ 55,000 $55,000 Retained earnings 226,200 320,750 Net plant and equipment $287,000 $ 352,750 Total $281,200 $ 375,750 $ $ Total assets Total liabilities and owners' equity 400,000 500,000 400,000 500,000 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.) 2020 Answer is not complete. % 2021 % Assets Current assets Cash $ 11,000 1.29 % S 14,250 Accounts receivable 27,000 % 36,750 Inventory 75,000 % 96,250 Total $ 113,000 % $ 147,250 % % % % Fixed assets Net plant and equipment $ 287,000 % $ 352,750 Total assets $ 400,000 % $ 500,000 ** % % Liabilities and Owners' Equity Current liabilities. Accounts payable $ 54,000 % 63,750 Notes payable 14,800 % 20,500 Total $ 68,800 % $ 84,250 % % % Long-term debt $ 50,000 % $ 40,000 % Owners' equity Common stock and paid-in surplus $ 55,000 % $ 55,000 % Retained earnings 226,200 % 320,750 % S 281,200 % $ 375,750 % Total Total liabilities and owners' equity $ 400,000 % 500,000 %
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