Question

Just Dew It Corporation reports the following balance sheet information for 2017 and 2018. Assets 2017 2018 JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 14,600 Accounts payable $ 40,000 19,200 Notes payable 14,240 51,000 $ 13.280 Current assets Cash Accounts receivable Inventory $ 41,800 7.520 21,600 42,400 Total $ 63,200 $ 84,800 Total $ 54,240 $ 63,400 Long-term debt $ 32,000 $ 24,000 Owners' equity Common stock and paid-in surplus Retained earnings $ 40,000 193,760 $ 40,000 272,600 Net plant and equipment $256,800 $ 315,200 Total $ 233,760 $ 312,600 Total assets $320,000 $400,000 Total liabilities and owners' equity $320,000 $400,000 Prepare the 2018 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.) 2017 2018 Assets Current assets Cash $ 14.600 13,280 $ 7,520 42,400 63,200 $ 19,200 51,000 84,800 $ $ $ 256,800 $ 320,000 $ 315,200 400,000 Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Total Total liabilities and owners' equity $ 40,000 $ 14.240 $ $ $ 41,800 21,600 63,400 24,000 54.240 $ 32.000 $ $ $ 40,000 $ 193,760 233,760 $ 320,000 $ 40,000 272,600 312,600 400,000 $ $

Answer 1

2017 2018 $13,280 7,520 42,400 $63,200 $14,600 19,200 51,000 $84,800 -0.0050 0.0245 -0.0050 0.0145 256,800 320,000 315,200 400,000 -0.0145 0.0000 Assets Current Assets Cash Accounts Receivable Inventory Total Fixed Assets Net Plant and Equipment Total Assets Liabilities and Owner's Equity Current Liabilities Accounts Payable Notes Payable Total Long term Debt Owner's Equity Common Stock and Paid in Surplus Accumulated Retained Earnings Total Total Liabilities and Owner's Equity $40,000 14,240 $54,240 $32,000 $41,800 21,600 $63,400 $24,000 -0.0205 0.0095 -0.0110 -0.0400 -0.0250 0.0760 40,000 193,760 233,760 320,000 40,000 272,600 312,600 400,000 0.0510 0.0000