Question
Presented below is the comparative balance sheet for Martinez Company. Martinez Company Comparative Balance Sheet As of December 31, 2021 and 2020 December 31 2021
Presented below is the comparative balance sheet for Martinez Company.
Martinez Company Comparative Balance Sheet As of December 31, 2021 and 2020 | ||||||
---|---|---|---|---|---|---|
December 31 | ||||||
2021 | 2022 | |||||
Assets | ||||||
Cash | $181,000 | $272,500 | ||||
Accounts receivable (net) | 218,100 | 155,200 | ||||
Short-term investments | 271,100 | 149,100 | ||||
Inventories | 1,066,900 | 978,500 | ||||
Prepaid expenses | 24,800 | 24,800 | ||||
Plant & equipment | 2,604,700 | 1,948,400 | ||||
Accumulated depreciation | (1,003,600) | (743,000) | ||||
$3,363,000 | $2,785,500 | |||||
Liabilities and Stockholders Equity | ||||||
Accounts payable | $49,800 | $74,700 | ||||
Accrued expenses | 168,900 | 200,700 | ||||
Bonds payable | 452,100 | 189,100 | ||||
Capital stock | 2,108,600 | 1,782,200 | ||||
Retained earnings | 583,600 | 538,800 | ||||
$3,363,000 | $2,785,500 |
Prepare a comparative balance sheet of Martinez Company showing the percent each item is of the total assets or total liabilities and stockholders equity. (Round percentages to 2 decimal places, e.g. 2.25%.)
MARTINEZ COMPANY Comparative Balance Sheet December 31, 2021 and 2020 | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
December 31 | ||||||||||||
Assets | 2021 | 2020 | ||||||||||
Cash | $181,000 | enter percentages rounded to 2 decimal places | % | $272,500 | enter percentages rounded to 2 decimal places | % | ||||||
Accounts receivable (net) | 218,100 | enter percentages rounded to 2 decimal places | % | 155,200 | enter percentages rounded to 2 decimal places | % | ||||||
Short-term investments | 271,100 | enter percentages rounded to 2 decimal places | % | 149,100 | enter percentages rounded to 2 decimal places | % | ||||||
Inventories | 1,066,900 | enter percentages rounded to 2 decimal places | % | 978,500 | enter percentages rounded to 2 decimal places | % | ||||||
Prepaid expenses | 24,800 | enter percentages rounded to 2 decimal places | % | 24,800 | enter percentages rounded to 2 decimal places | % | ||||||
Plant and equipment | 2,604,700 | enter percentages rounded to 2 decimal places | % | 1,948,400 | enter percentages rounded to 2 decimal places | % | ||||||
Accumulated depreciation | (1,003,600 | ) | enter percentages rounded to 2 decimal places | % | (743,000 | ) | enter percentages rounded to 2 decimal places | % | ||||
Total | $3,363,000 | enter percentages rounded to 2 decimal places | % | $2,785,500 | enter percentages rounded to 2 decimal places | % | ||||||
Liabilities and Stockholders Equity | ||||||||||||
Accounts payable | $49,800 | enter percentages rounded to 2 decimal places | % | $74,700 | enter percentages rounded to 2 decimal places | % | ||||||
Accrued expenses | 168,900 | enter percentages rounded to 2 decimal places | % | 200,700 | enter percentages rounded to 2 decimal places | % | ||||||
Bonds payable | 452,100 | enter percentages rounded to 2 decimal places | % | 189,100 | enter percentages rounded to 2 decimal places | % | ||||||
Capital stock | 2,108,600 | enter percentages rounded to 2 decimal places | % | 1,782,200 | enter percentages rounded to 2 decimal places | % | ||||||
Retained earnings | 583,600 | enter percentages rounded to 2 decimal places | % | 538,800 | enter percentages rounded to 2 decimal places | % | ||||||
Total | $3,363,000 | enter percentages rounded to 2 decimal places | % | $2,785,500 | enter percentages rounded to 2 decimal places | % |
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