Question

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

	Current Year		Previous Year
Current assets	$259,780		$157,250
Property, plant, and equipment	477,660		434,010
Intangible assets	100,560		37,740
Current liabilities	175,980		100,640
Long-term liabilities	326,820		270,470
Common stock	92,180		88,060
Retained earnings	243,020		169,830

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	$259,780	%	$157,250	%
Property, plant, and equipment	477,660	%	434,010	%
Intangible assets	100,560	%	37,740	%
Total assets	$838,000	%	$629,000	%
Current liabilities	$175,980	%	$100,640	%
Long-term liabilities	326,820	%	270,470	%
Common stock	92,180	%	88,060	%
Retained earnings	243,020	%	169,830	%
Total liabilities and stockholders' equity	$838,000	%	$629,000	%

Answer 1

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	$259,780	31%	$157,250	25%
Property, plant, and equipment	477,660	57%	434,010	69%
Intangible assets	100,560	12%	37,740	6%
Total assets	$838,000	100%	$629,000	100%
Current liabilities	$175,980	21%	$100,640	16%
Long-term liabilities	326,820	39%	270,470	43%
Common stock	92,180	11%	88,060	14%
Retained earnings	243,020	29%	169,830	27%
Total liabilities and stockholders' equity	$838,000	100%	$629,000	100%