Question

Current assets									Current liabilities
Cash	$	9,279			$	11,173			Accounts payable	$	41,060			$	43,805
Accounts receivable		23,683				25,760			Notes payable		16,157				16,843
Inventory		42,636				46,915
Total	$	75,598			$	83,848			Total	$	57,217			$	60,648
									Long-term debt	$	40,000			$	35,000
Fixed assets									Owners’ equity
									Common stock and paid-in surplus	$	50,000			$	50,000
									Retained earnings		200,428				236,167
Net plant and equipment	$	272,047			$	297,967			Total	$	250,428			$	286,167
Total assets	$	347,645			$	381,815			Total liabilities and owners’ equity	$	347,645			$	381,815

Prepare the 2017 and 2018 common-size statement of financial position for Birtle. (Round the final answers to 2 decimal places.)

Answer 1

ANSWER

Assets	2017		2018
Cash	9279	2.67%	11173	2.93%
Accounts receivables	23683	6.81%	25760	6.75%
Inventory	42636	12.26%	46915	12.29%
Total	75598	21.75%	83848	21.96%
Fixed assets
Net plant and equipment	272047	78.25%	297967	78.04%
Total assets	347645	100.00%	381815	100.00%

Liabilities and Owners' equity
Current liabilities
Accounts payable	41060	11.81%	43805	11.47%
Notes payable	16157	4.65%	16843	4.41%
Total	57217	16.46%	60648	15.88%
Long-term debt	40000	11.51%	35000	9.17%

Owners' equity
Common stock and paid-in surplus	50000	14.38%	50000	13.10%
Accumulated retained earnings	200428	57.65%	236167	61.85%
Total	250428	72.04%	286167	74.95%
Total liabilities and owners' equity	347645	100.00%	381815	100.00%

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