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Just Dew It Corporation reports the following balance sheet information for 2017 and 2018. JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Assets 2017
Just Dew It Corporation reports the following balance sheet information for 2017 and 2018. JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Assets 2017 2018 2018 $ Liabilities and Owners' Equity 2017 Current liabilities Accounts payable $ 48,000 Notes payable 10,350 4,350 $ 9,800 Current assets Cash Accounts receivable Inventory $ 49,800 11,550 14,200 18,600 58,350 75,800 Total $ 74,250 $ 99,800 Total $ 58,350 $ 68,400 Long-term debt $ 42,000 $ 34,000 Owners' equity Common stock and paid-in surplus Retained earnings $ 45,000 $ 45,000 154,650 252,600 Net plant and equipment $225,750 $300,200 Total $ 199,650 $ 297,600 Total assets $300,000 $400,000 Total liabilities and owners' equity $300,000 $400,000 Prepare the 2017 and 2018 common-size balance sheets for Just Dew It. (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) 2017 % 2018 % Assets Current assets Cash $ 4,350 % 9,800 % Accounts receivable % % 11,550 58,350 74,250 14,200 75,800 % Inventory Total % $ % 99,800 % Fixed assets Net plant and equipment $ % % 225,750 300,000 300,200 400,000 Total assets $ % % Liabilities and Owners' Equity Current liabilities $ % 49,800 % % 18,600 % 48,000 10,350 58,350 42,000 $ % 68,400 Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings % $ % 34,000 % $ % 45,000 % 45,000 154,650 % % Total $ 199,650 % 252,600 297,600 400,000 % Total liabilities and owners' equity $ 300,000 % %
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