The Red Mountain Motel's balance sheet at December 31, 20X4, is as follows. PREPARE A COMMON-SIZE BALANCE SHEET FOR THE RED MOUNTAIN MOTEL. Please explain how you complete this problem.

	31-Dec
ASSETS	20X4	20X3
Current Assets:
Cash	12500
Accounts Receivable	15,000
Cleaning Supplies	2,500
Total Current Assets	30,000
Property and Equipment:
Land	120,000
Building	800,000
Furnishings and Equipment	50,000
Less: Accumulated Depreciation	125,000
Net Property and Equipment	845,000
Total Assets
LIABILITIES AND OWNERS EQUITY
Current Liabilities:
Notes Payable	23,700
Accounts Payable	8,000
Wages Payable	300
Total Current Liabilities
Long-Term Liabilities:
Mortgage Payable	420,000
Total Liabilities	452,000
Owners Equity:
R. Mountain, Capital
at January 1, 20X1	384,000
Net Income for 20X1	38,500,
R. Mountain, Capital
at December 31, 20X1	423,000
Total Liabilities
and Owners Equity

PREPARE A COMMON-SIZE BALANCE SHEET FOR THE RED MOUNTAIN MOTEL.