Balance sheet data for Kwan Company on December 31, the end of two recent fiscal years, follow: Current Year Previous Year Current assets $285,820 $179,920 Property. plant, and equipment 516.320 462,640 Intangible assets 119.860 48,440 Current liabilities 175.180 96,880 Long-term liabilities 378.020 283,720 Common stock 92.200 89.960 Retained earnings 276.600 221,440 Prepare a comparative balance sheet for both years, 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. Kwan Company Comparative Balance Sheet For the Years Ended December 31 Current Current Previous Previous year year year year Amount Percent Amount Percent Current assets $285,820 % $179,920 Property, plant, and equipment 516,320 463,640 Intangible assets 119,860 48.440 Total assets $922.000 % $692.000 Current liabilities $175,180 $96.880 Long-term liabilities 378,020 283,720 Common stock 92,200 89,960 Retained earnings 276,600 221,440 Total liabilities and stockholders' equity $922,000 $692.000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Balance sheet data for Kwan Company on December 31, the end of two recent fiscal years, follow:
Current Year
Previous Year
Current assets
$285,820
$179,920
Property, plant, and equipment
516,320
463,640
Intangible assets
119,860
48,440
Current liabilities
175,180
96,880
Long-term liabilities
378,020
283,720
Common stock
92,200
89,960
Retained earnings
276,600
221,440
Prepare a comparative balance sheet for both years, 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.
Kwan Company
Comparative Balance Sheet
For the Years Ended December 31
Current
Current
Previous Previous
year
year
year
year
Amount Percent
Amount
Percent
Current assets
$285,820
$179,920
Property, plant, and equipment
516,320
%
463,640
%
Intangible assets
119,860
48,440
Total assets
$922,000
$692,000
Current liabilities
$175,180
%
$96,880
%
Long-term liabilities
378,020
%
283,720
%
Common stock
92,200
89,960
%
Retained earnings
276,600
%
221,440
Total liabilities and stockholders' equity $922,000
$692,000
%
Transcribed Image Text:Balance sheet data for Kwan Company on December 31, the end of two recent fiscal years, follow: Current Year Previous Year Current assets $285,820 $179,920 Property, plant, and equipment 516,320 463,640 Intangible assets 119,860 48,440 Current liabilities 175,180 96,880 Long-term liabilities 378,020 283,720 Common stock 92,200 89,960 Retained earnings 276,600 221,440 Prepare a comparative balance sheet for both years, 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. Kwan Company Comparative Balance Sheet For the Years Ended December 31 Current Current Previous Previous year year year year Amount Percent Amount Percent Current assets $285,820 $179,920 Property, plant, and equipment 516,320 % 463,640 % Intangible assets 119,860 48,440 Total assets $922,000 $692,000 Current liabilities $175,180 % $96,880 % Long-term liabilities 378,020 % 283,720 % Common stock 92,200 89,960 % Retained earnings 276,600 % 221,440 Total liabilities and stockholders' equity $922,000 $692,000 %
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