Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Vertical Analysis of Balance Sheet Balance sheet data for Alvarez Company on December 31, the end of two recent fiscal years, follows: Current Year Previous
Vertical Analysis of Balance Sheet
Balance sheet data for Alvarez Company on December 31, the end of two recent fiscal years, follows:
Current Year | Previous Year | |||
Current assets | $327,950 | $203,870 | ||
Property, plant, and equipment | 477,870 | 435,860 | ||
Intangible assets | 131,180 | 63,270 | ||
Current liabilities | 215,510 | 119,510 | ||
Long-term liabilities | 365,430 | 281,200 | ||
Common stock | 103,070 | 98,420 | ||
Retained earnings | 252,990 | 203,870 |
Prepare a comparative balance sheet for both years, stating each asset as a percent of total assets and each liability and stockholders' equity item as a percent of the total liabilities and stockholders' equity. If required, round percentages to one decimal place.
Alvaraz Company | ||||
Comparative Balance Sheet | ||||
For the Years Ended December 31 | ||||
Current year Amount | Current year Percent | Previous year Amount | Previous year Percent | |
Current assets | $327,950 | % | $203,870 | % |
Property, plant, and equipment | 477,870 | % | 435,860 | % |
Intangible assets | 131,180 | % | 63,270 | % |
Total assets | $937,000 | % | $703,000 | % |
Current liabilities | $215,510 | % | $119,510 | % |
Long-term liabilities | 365,430 | % | 281,200 | % |
Common stock | 103,070 | % | 98,420 | % |
Retained earnings | 252,990 | % | 203,870 | % |
Total liabilities and stockholders' equity | $937,000 | % | $703,000 | % |
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