Use a spreadsheet to construct a common-size balance sheet from the data in problem 2 and a common-size income statement from the data in problem 5.

Transcribed Image Text:

Balance sheet from problem 2 Cash Accounts receivable Inventorv Total current assets Gross P&E Less accumulated S 12,000 50,000 S 62,000 128,000 190,000 100,000 155,000 150,000 S 405,000 S 595,000 S 10,000 Accounts payable 100,000 Notes payable 110,000 T current liabilities 220,000 Long-term debt 500,000 Total Liabilities Common stock 125,000 Paid-in capital 375,000 Retained eamings epreciation Net P&E Total assets S 595,000 Toal stockholders equity Total liabilities and equity