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PLEASE SHOW YOUR WORK. DON'T RESPOND IF YOU'RE NOT GOING TO ANSWER EVERY QUESTION. Problem 3-13 Preparing Standardized Financial Statements (LO1] Just Dewit Corporation reports

PLEASE SHOW YOUR WORK. DON'T RESPOND IF YOU'RE NOT GOING TO ANSWER EVERY QUESTION.

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Problem 3-13 Preparing Standardized Financial Statements (LO1] Just Dewit Corporation reports the following balance sheet information Prepare the common-size balance sheet for Just Dew it. (Do not round Intermediate calculations. Enter your answers as a percent rounded to 2 decimal places, e.g.. 32.16.) . Assets Current assets Cash Accounts recevable Inventory $ 14,200 19.000 51.800 Total $ 85.000 Fixed assets Net plant and equipment $ 315.000 Total assets $400.000 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable $ 58.400 23.400 Total $ 81,800 Long-term debt $ 32.000 Owners' equity Common stock and paid in surplus $ 44,000 Accumulated retained earnings 242.200 % Total $286.200 %6 Total liabilities and owners' equity $ 400.000

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