Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Presented below is the comparative balance sheet for Ivanhoe Company. Ivanhoe Company Comparative Balance Sheet As of December 31, 2021 and 2020 December 31 2021
Presented below is the comparative balance sheet for Ivanhoe Company. Ivanhoe Company Comparative Balance Sheet As of December 31, 2021 and 2020 December 31 2021 2022 Assets Cash $181,800 $277,500 Accounts receivable (net) 219,300 156,400 Short-term investments 267,800 149,100 Inventories 1,067,900 971,700 Prepaid expenses 24,900 24,900 Plant & equipment 2,571,400 1,962,400 Accumulated depreciation (1,001,800) (746,800) $3,331,300 $2,795,200 Liabilities and Stockholders' Equity Accounts payable Accrued expenses Bonds payable Capital stock Retained earnings $49,500 170,000 447,200 2,117,900 546,700 $3,331,300 $74,800 198,300 190,700 1,792,000 539,400 $2,795,200 Prepare a comparative balance sheet of Ivanhoe Company showing the percent each item is of the total assets ar total liabilities and stockholders' equity. (Round percentages to 2 decimal places, e.g. 2.25%.) 2020 Assets Cash Accounts receivable (net) IVANHOE COMPANY Comparative Balance Sheet December 31, 2021 and 2020 December 31 2021 $181,800 % $277,500 219,300 % 156,400 267,800 % 149,100 1,067,900 971,700 24,900 24,900 Short-term investments Inventories Prepaid expenses Plant and equipment Accumulated depreciation 2,571,400 (1,001,800) $3,331,300 % % 1,962,400 (746,800) $2,795,200 Total $74,800 Liabilities and Stockholders' Equity Accounts payable $49,500 Accrued expenses 170,000 Bonds payable 447,200 Capital stock 2,117,900 Retained earnings 546,700 Total $3,331,300 % % % % % % 198,300 190,700 1,792,000 539,400 $2,795,200 Prepare a comparative balance sheet of Ivanhoe Company showing the dollar change and the percent change for each item. (If there is a decrease from 2020 to 2022, then enter the amounts and percentages with either a negative sign, i.e. -92,000, -25.25 or parenthesis, i.e. (92,000), (25.25).) Assets Cash Accounts receivable (net) Investments IVANHOE COMPANY Comparative Balance Sheet December 31, 2021 and 2020 December 31 Increase or (Decrease) 2021 2020 $ Change % Change $181,800 $277,500 219,300 156,400 267,800 149,100 1,067,900 971,700 24,900 24,900 2,571,400 1,962,400 (1,001,800 ) (746,800 ) $3,331,300 $2,795,200 Inventories Prepaid expenses Plant and equipment Accumulated depreciation Total 5 Liabilities and Stockholders' Equity Accounts payable $49,500 Accrued expenses 170,000 Bonds payable 447,200 Capital stock 2,117,900 Retained earnings Total $3,331,300 $74,800 198,300 190,700 1,792,000 539,400 $2,795,200
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started