Question

Just Dew It Corporation reports the following balance sheet information for 2017 and 2018.

  

JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets
Assets									Liabilities and Owners’ Equity
	2017				2018					2017				2018
Current assets									Current liabilities
Cash	$	7,800			$	12,250			Accounts payable	$	46,400			$	52,750
Accounts receivable		15,800				31,000			Notes payable		20,600				26,500
Inventory		53,400				64,250
Total	$	77,000			$	107,500			Total	$	67,000			$	79,250
									Long-term debt	$	46,000			$	40,000
									Owners’ equity
									Common stock and paid-in surplus	$	50,000			$	50,000
									Retained earnings		237,000				330,750
Net plant and equipment	$	323,000			$	392,500			Total	$	287,000			$	380,750
Total assets	$	400,000			$	500,000			Total liabilities and owners’ equity	$	400,000			$	500,000

   

Prepare the 2018 combined common-size, common-base year balance sheet for Just Dew It. (Do not round intermediate calculations and round your answers to 4 decimal places, e.g., 32.1616.)

  

Answer 1

JUST DEW IT CORPORATION Common-Size, Common-Base Balance Sheet 2017 | Amount Common-Size Amount 2018 Common-Size Common-Size Common-Base $ $ Assets Current Assets Cash Accounts Receivable Inventory Total Net Plant and Equipment Total Assets 7,800 15,800 53,400 77,000 323,000 400,000 1.95% $ 3.95% $ 13.35% $ 19.25% $ 80.75% $ 100.00% $ 12,250 31,000 64,250 107,500 392,500 500,000 2.45% 6.20% 12.85% 21.50% 78.50% 100.00% 1.2564 1.5696 0.9625 1.1169 0.9721 1.0000 $ $ $ Liabilities and Owners' Equity Current Liabilities Accounts Payable Notes Payable Total Long-term Debt Owners' Equity Common Stock and Paid-in Surplus Retained Earnings Total Total Liabilities and Owners' Equity $ $ $ $ 46,400 20,600 67,000 46,000 11.60% $ 5.15% $ 16.75% $ 11.50% $ 52,750 26,500 79,250 40,000 10.55% 5.30% 15.85% 8.00% 0.9095 1.0291 0.9463 0.6957 $ $ $ 1$ 50,000 237,000 287,000 400,000 12.50% $ 59.25% $ 71.75% $ 100.00% $ 50,000 330,750 380,750 500,000 10.00% 66.15% 76.15% 100.00% 0.8000 1.1165 1.0613 1.0000