Question

Vertical Analysis of Balance Sheet

Balance sheet data for Hanes Company on December 31, the end of the fiscal year, are shown below.

	20Y2		20Y1
Current assets	340,890		193,750
Property, plant, and equipment	547,490		511,500
Intangible assets	144,620		69,750
Current liabilities	185,940		85,250
Long-term liabilities	464,850		403,000
Common stock	103,300		93,000
Retained earnings	278,910		193,750

Prepare a comparative balance sheet for 20Y2 and 20Y1, 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.

Hanes Company
Comparative Balance Sheet
December 31, 20Y2 and 20Y1
	20Y2 Amount	20Y2 Percent	20Y1 Amount	20Y1 Percent
Assets
Current assets	$340,890	%	$193,750	%
Property, plant, and equipment	547,490	%	511,500	%
Intangible assets	144,620	%	69,750	%
Total assets	$1,033,000	%	$775,000	%
Liabilities
Current liabilities	$185,940	%	$85,250	%
Long-term liabilities	464,850	%	403,000	%
Stockholders' equity
Common stock	103,300	%	93,000	%
Retained earnings	278,910	%	193,750	%
Total liabilities and stockholders' equity	$1,033,000	%	$775,000	%

Answer 1

Answer-

HANES COMPANY
COMPARATIVE BALANCE SHEET
Particulars		20Y2	%	20Y1	%
		$		$
Assets
Current Assets		340890	33.0	193750	25.0
Property, plant & Equipment		547490	53.0	511500	66.0
Intangible Assets		144620	14.0	69750	9.0
Total Assets		1033000	100.0	775000	100.0
Liabilities:-
Current Liabilities		185940	18.0	85250	11.0
Long term Liabilities		464850	45.0	403000	52.0
Stockholder's Equity:-
Common stock		103300	10.0	93000	12.0
Retained earnings		278910	27.0	193750	25.0
Total liabililties & stockholder equity		1033000	100	775000	100