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Problem 24-04 a-b Presented below is the comparative balance sheet for Waterway Company. Waterway Company Comparative Balance Sheet As of December 31, 2021 and 2020
Problem 24-04 a-b Presented below is the comparative balance sheet for Waterway Company. Waterway Company Comparative Balance Sheet As of December 31, 2021 and 2020 December 31 2021 2022 Assets Cash $180,400 $277,100 Accounts receivable (net) 220,000 156,500 Short-term investments 267,600 150,500 Inventories 1,051,400 973,400 Prepaid expenses 24,900 24,900 Plant & equipment 2,592,300 1,931,100 Accumulated depreciation (1,004,900 (753,800 $3,331,700 $2,759,700 Liabilities and Stockholders' Equity Accounts payable Accrued expenses Bonds payable Capital stock Retained earnings $50,400 169,100 453,100 2,079,500 579,600 $3,331,700 $75,700 201,100 189,400 1,761,100 532,400 $2,759,700 Prepare a comparative balance sheet of Waterway 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%.) 2020 Assets Cash Accounts receivable (net) Short-term investments Inventories Prepaid expenses Plant and equipment Accumulated depreciation WATERWAY COMPANY Comparative Balance Sheet December 31, 2021 and 2020 December 31 2021 $180,400 % $277,100 220,000 156,500 267,600 150,500 1,051,400 973,400 24,900 24,900 2,592,300 1,931,100 (1,004,900) (753,800) $3,331,700 % $2,759,700 Total Liabilities and Stockholders' Equity Accounts payable $50,400 Accrued expenses 169,100 Bonds payable 453,100 Capital stock 2,079,500 Retained earnings 579,600 Total $3,331,700 $75,700 201,100 189,400 1,761,100 532,400 $2,759,700 % % % Prepare a comparative balance sheet of Waterway Company showing the dollar change and the percent change for each item. (If there is a decrease from 2020 to 2021, 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).) WATERWAY COMPANY Comparative Balance Sheet December 31, 2021 and 2020 December 31 Increase or (Decrease) Assets 2021 2020 $ Change % Change Cash $180,400 $277,100 $ Accounts receivable (net) 220,000 156,500 Investments 267,600 150,500 Inventories 1,051,400 973,400 Prepaid expenses 24,900 24,900 Plant and equipment 2,592,300 1,931,100 Accumulated depreciation (1,004,900) (753,800 ) Total $3,331,700 $2,759,700 Liabilities and Stockholders' Equity Accounts payable $50,400 Accrued expenses 169,100 Bonds payable 453,100 Capital stock 2,079,500 Retained earnings 579,600 Total $3,331,700 $75,700 201,100 189,400 1,761,100 532,400 $2,759,700
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