Question

Balance sheet data for Alvarez Company on December 31, the end of two recent fiscal years, follows:

	Current Year		Previous Year
Current assets	$282,200		$180,670
Property, plant, and equipment	456,500		404,950
Intangible assets	91,300		37,380
Current liabilities	190,900		99,680
Long-term liabilities	315,400		255,430
Common stock	91,300		87,220
Retained earnings	232,400		180,670

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.

Answer 1

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Alvarez Company
Assets	Current Year	Current Year %	Previous Year	Previous Year %
Current assets	282,200.00	34.0%	180,670.00	29.0%
Property, plant, and equipment	456,500.00	55.0%	404,950.00	65.0%
Intangible assets	91,300.00	11.0%	37,380.00	6.0%
Total Assets	830,000.00	100.0%	623,000.00	100.0%
Liabilities & stockholder's equity
Current liabilities	190,900.00	23.0%	99,680.00	16.0%
Long-term liabilities	315,400.00	38.0%	255,430.00	41.0%
Common stock	91,300.00	11.0%	87,220.00	14.0%
Retained earnings	232,400.00	28.0%	180,670.00	29.0%
Total Liabilities & stockholder's equity	830,000.00	100.0%	623,000.00	100.0%