Question

Just Dew It Corporation reports the following balance sheet information for 2017 and 2018 Assets 2017 2018 Current assets Cash Accounts receivable Inventory JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 14,105 Accounts payable $ 46.382 32,815 Notes payable 18,246 57,204 $ 12.157 29,382 54,632 $ 49.276 19,784 Total $ 96,171 $ 104,124 Total $ 64,628 $ 69,060 Long-term debt $ 49,000 $ 45,000 Owners' equity Common stock and paid-in $ 50.0do surplus Retained earnings 299.784 $ 50,000 315,894 Net plant and equipment $367.241 $375,830 Total $349,784 $365,894 Total assets $463,412 $479,954 Total liabilities and owners equity $ 463,412 $479,954 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... 32.1616.) 2017 2018 Assets

Answer 1

	2017	2018
Assets
Current assets:
Cash	$             12,157	$            14,105	116.0237%
Accounts receivable	$             29,382	$            32,815	111.6840%
Inventory	$             54,632	$            57,204	104.7079%
Total	$             96,171	$ 104,124	108.2696%
Fixed assets:
Net plant and equipment	$ 367,241	$ 375,830	102.3388%
Total assets	$ 463,412	$ 479,954	103.5696%
Liabilities and Owners' Equity
Current liabilities:
Accounts payable	$             46,382	$            49,276	106.2395%
Notes payable	$             18,246	$            19,784	108.4292%
Total	$             64,628	$            69,060	106.8577%
Long term debt	$             49,000	$            45,000	91.8367%
Owners' equity:
Common stock and paid in surplus	$             50,000	$            50,000	100.0000%
Accumulated retained earnings	$ 299,784	$ 315,894	105.3739%
Total	$ 349,784	$ 365,894	104.6057%
Total liabilities and owners' equity	$ 463,412	$ 479,954	103.5696%