Question
PROBLEM 14-13. Common-Size Financial Statements [LO 1, 2] The financial statements for the Bao Corporation are given below: Bao Corporation Comparative Balance Sheets December 31,
PROBLEM 14-13. Common-Size Financial Statements [LO 1, 2]
The financial statements for
the Bao Corporation are given below:
Bao Corporation
Comparative Balance Sheets
December 31, 2015, and 2014
2015
2014
Assets
Current assets:
Cash
$ 1,900 $ 1,300
Accounts receivable net
9,100
7,300
Inventory
11,300
9,100
Prepaid expenses
560
250
Total current assets
22,860
17,950
Property and equipment:
Land
86,000
86,000
Buildings and equipment, net
48,600
52,000
Total property and equipment
134,600
138,000
Total assets
$157,460 $155,950
Liabilities and Stockholder
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
Contemporary Auditing
Authors: Michael C. Knapp
8th edition
978-0538466790, 538466790, 978-1285066608
