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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 Liabilities
Just Dew It Corporation reports the following balance sheet information for 2017 and 2018. |
JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets | ||||||||||||||||
Assets | Liabilities and Owners Equity | |||||||||||||||
2017 | 2018 | 2017 | 2018 | |||||||||||||
Current assets | Current liabilities | |||||||||||||||
Cash | $ | 7,800 | $ | 12,250 | Accounts payable | $ | 46,400 | $ | 52,750 | |||||||
Accounts receivable | 15,800 | 31,000 | Notes payable | 20,600 | 26,500 | |||||||||||
Inventory | 53,400 | 64,250 | ||||||||||||||
Total | $ | 77,000 | $ | 107,500 | Total | $ | 67,000 | $ | 79,250 | |||||||
Long-term debt | $ | 46,000 | $ | 40,000 | ||||||||||||
Owners equity | ||||||||||||||||
Common stock and paid-in surplus | $ | 50,000 | $ | 50,000 | ||||||||||||
Retained earnings | 237,000 | 330,750 | ||||||||||||||
Net plant and equipment | $ | 323,000 | $ | 392,500 | Total | $ | 287,000 | $ | 380,750 | |||||||
Total assets | $ | 400,000 | $ | 500,000 | Total liabilities and owners equity | $ | 400,000 | $ | 500,000 | |||||||
Prepare the 2018 combined common-size, common-base year balance sheet for Just Dew It. (Do not round intermediate calculations and round your answers to 4 decimal places, e.g., 32.1616.) |
2017 2018 Assets Current assets Cash Accounts receivable $ $ 7,800 15,800 53,400 77,000 12,250 31,000 64,250 107,500 2.2560 X 1.0968 X 1.1690 X 1.2095 Inventory Total $ $ $ $ 323,000 400,000 $ $ 392,500 500,000 1.1968 1.2000 X $ $ Fixed assets Net plant and equipment Total assets Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Total 46,400 20,600 67,000 46,000 52,750 26,500 79,250 40,000 0.9984 X 1.0667 X 1.0154 X 0.6000 X $ $ $ $ $ $ 50,000 237,000 287,000 400,000 50,000 330,750 380,750 500,000 0.8000 1.5900 X 1.3745 X 1.2000 X $ $ $ $ Total liabilities and owners' equity
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