Question

Just Dew It Corporation reports the following balance sheet information for 2011 and 2012.

JUST DEW IT CORPORATION 2011 and 2012 Balance Sheets
Assets									Liabilities and Owners’ Equity
	2011				2012					2011				2012
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
									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 2011 and 2012 common-size balance sheets for Just Dew It. (Round your answers to 2 decimal places. (e.g., 32.16))

  

	2011							2012
Assets
Current assets
Cash	$	9,279			%			$	11,173			%
Accounts receivable		23,683			%				25,760			%
Inventory		42,636			%				46,915			%
Total	$	75,598			%			$	83,848			%
Fixed assets
Net plant and equipment	$	272,047			%			$	297,967			%
Total assets	$	347,645			%			$	381,815			%
Liabilities and Owners’ Equity
Current liabilities
Accounts payable	$	41,060			%			$	43,805			%
Notes payable		16,157			%				16,843			%
Total	$	57,217			%			$	60,648			%
Long-term debt	$	40,000			%			$	35,000			%
Owners' equity
Common stock and paid-in surplus	$	50,000			%			$	50,000			%
Accumulated retained earnings		200,428			%				236,167			%
Total	$	250,428			%			$	286,167			%
Total liabilities and owners' equity	$	347,645			%			$	381,815			%

Answer 1