Vertical Analysis of Balance Sheets

Consolidated balance sheets for Winged Manufacturing follow.

Winged Manufacturing Consolidated Balance Sheets (dollars in thousands)
		December 31
ASSETS		2023		2023
Current assets:
Cash and cash equivalents		$1,198,488		$676,413
Short-term investments		54,368		215,890
Accounts receivable, net of allowance for doubtful accounts of $90,992 ($83,776 in 2022)		1,581,347		1,381,946
Inventories		1,088,434		1,511,638
Deferred tax assets		293,048		268,085
Other current assets		255,767		289,383
Total current assets		$4,471,452		$4,343,355
Property, plant, and equipment:
Land and buildings		$484,592		$404,688
Machinery and equipment		587,728		578,272
Office furniture and equipment		158,160		167,905
Leasehold improvements		236,708		261,792
		$1,467,188		$1,412,657
Accumulated depreciation and amortization		(785,088)		(753,111)
Net property, plant, and equipment		$682,100		$659,546
Other assets		159,194		173,511
Total assets		$5,312,746		$5,176,412
LIABILITIES AND STOCKHOLDERS EQUITY
Current liabilities:
Short-term borrowings		$292,200		$823,182
Accounts payable		906,717		742,622
Accrued compensation and employee benefits		136,895		144,779
Accrued marketing and distribution		178,294		174,547
Accrued restructuring costs		58,238		307,932
Other current liabilities		396,961		315,023
Total current liabilities		$1,969,305		$2,508,085
Long-term debt		304,472		7,117
Deferred tax liabilities		670,668		624,832
Total liabilities		$2,944,445		$3,140,034
Stockholders equity:
Common stock, no par value: 320,000,000 shares authorized; 119,542,527 shares issued and outstanding in 2023 (116,147,035 shares in 2022)		$297,929		$228,613
Retained earnings		2,081,206		1,827,600
Accumulated translation adjustment		(10,834)		(19,835)
Total stockholders equity		$2,368,301		$2,036,378
Total liabilities and stockholders equity		$5,312,746		$5,176,412

Required:

Question Content Area

1. Prepare common size balance sheets for vertical analysis. Enter your answers in percentage terms, rounded to two decimal places, and do not include the "%" sign with your answer. For example, "100.00" or "28.72". For those boxes in which underlying dollar amount is shown as negative, use a minus sign. You do not need to include the actual dollar amounts shown above.

Winged Manufacturing Consolidated Balance Sheets blank

	December 31, 2023	December 31, 2022
Current assets:
Cash and cash equivalents
Short-term investments
Accounts receivable, net of allowance for doubtful accounts of $90,992 ($83,776 in 2022)
Inventories
Deferred tax assets
Other current assets
Total current assets
Property, plant, and equipment:
Land and buildings
Machinery and equipment
Office furniture and equipment
Leasehold improvements
Accumulated depreciation and amortization
Net property, plant, and equipment
Other assets
Total assets
Current liabilities:
Short-term borrowing
Accounts payable
Accrued compensation and employee benefits
Accrued marketing and distribution
Accrued restructuring costs
Other current liabilities
Total current liabilities
Long-term debt
Deferred tax liabilities
Total liabilities
Stockholders' equity:
Common stock, no par value: 320,000,000 shares authorized; 119,542,527 shares issued and outstanding in 2023 (116,147,035 shares in 2022)
Retained earnings
Accumulated translation adjustment
Total stockholders' equity
Total liabilities and stockholders' equity

Question Content Area

2. Indicate from what sources Winged appears to have secured the resources for its asset increase.