Problem 24-04 a-b Presented below is the comparative balance sheet for Cullumber Company. Cullumber Company Comparative Balance Sheet As of December 31, 2021 and 2020 December 31 2021 2022 Assets Cash $179,200 $273,600 Accounts receivable (net) 221,500 154,100 Short-term investments 268,400 149,000 Inventories 1,066,500 984,100 Prepaid expenses 25,200 25,200 Plant & equipment 2,566,600 1,936,400 Accumulated depreciation (997,500) (755,700) $3,329,900 $2,766,700 Liabilities and Stockholders' Equity Accounts payable Accrued expenses Bonds payable Capital stock Retained earnings $49,600 170,500 450,100 2,115,400 544,300 $3,329,900 $75,600 198,000 189,200 1,770,500 533,400 $2,766,700 Prepare a comparative balance sheet of Cullumber 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%.) Assets CULLUMBER COMPANY Comparative Balance Sheet December 31, 2021 and 2020 December 31 2021 $179,200 1% $273,600 221,500 1% 154,100 2020 Cash % Accounts receivable (net) % Short-term investments 268,400 % % 149,000 % Inventories 1,066,500 % 984,100 % 25,200 % 25,200 % % % Prepaid expenses Plant and equipment Accumulated depreciation Total 2,566,600 (997,500) 1,936,400 (755,700) 1% % $3,329,900 % $2,766,700 % % % $75,600 198,000 % % Liabilities and Stockholders' Equity Accounts payable $49,600 Accrued expenses 170,500 Bonds payable 450,100 Capital stock 2,115,400 Retained earnings 544,300 % 189,200 % % 1,770,500 % % % 533,400 % Total $3,329,900 % $2,766,700 Prepare a comparative balance sheet of Cullumber 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).) CULLUMBER COMPANY Comparative Balance Sheet December 31, 2021 and 2020 December 31 Increase or (Decrease) 2021 2020 $ Change % Change $179,200 $273,600 $ Assets Cash % 154,100 % Accounts receivable (net) Investments Inventories 221,500 268,400 149,000 1% 984,100 % Prepaid expenses 1,066,500 25,200 2,566,600 7% 25,200 1,936,400 Plant and equipment 1% Accumulated depreciation (997,500) (755,700 ) % Total $3,329,900 $2,766,700 1% $75,600 % Liabilities and Stockholders' Equity Accounts payable $49,600 Accrued expenses 170,500 Bonds payable 450,100 Capital stock 2,115,400 198,000 % 189,200 % % 1,770,500 533,400 Retained earnings 544,300 % Total $3,329,900 $2,766,700 % it