FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Vertical Analysis of Balance Sheet
Balance sheet data for a company for the years ended December 31, 20Y2 and 20Y1, are shown below.
20Y2
20Υ1
Current assets
$ 752,000
$ 602,000
Property, plant, and equipment
6,248,000
5,397,000
Intangible assets
1,000,000
1,001,000
Current liabilities
504,000
427,000
Long-term liabilities
1,504,000
1,197,000
Common stock
1,248,000
1,253,000
Retained earnings
4,744,000
4,123,000
| 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. Round your answers to one decimal place.
Comparative Balance Sheet
December 31, 20Y2 and 20Y1
20Y2 Amount 20Y2 Percent
20Y1 Amount 20Y1 Percent
Assets
Current assets
$752,000
%
$602,000
%
Property, plant, and equipment
6,248,000
5,397,000
Intangible assets
1,000,000
1,001,000
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Transcribed Image Text:Vertical Analysis of Balance Sheet Balance sheet data for a company for the years ended December 31, 20Y2 and 20Y1, are shown below. 20Y2 20Υ1 Current assets $ 752,000 $ 602,000 Property, plant, and equipment 6,248,000 5,397,000 Intangible assets 1,000,000 1,001,000 Current liabilities 504,000 427,000 Long-term liabilities 1,504,000 1,197,000 Common stock 1,248,000 1,253,000 Retained earnings 4,744,000 4,123,000 | 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. Round your answers to one decimal place. Comparative Balance Sheet December 31, 20Y2 and 20Y1 20Y2 Amount 20Y2 Percent 20Y1 Amount 20Y1 Percent Assets Current assets $752,000 % $602,000 % Property, plant, and equipment 6,248,000 5,397,000 Intangible assets 1,000,000 1,001,000
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. Round your answers to one decimal place.
Comparative Balance Sheet
December 31, 20Y2 and 20Y1
20Y2 Amount 20Y2 Percent
20Y1 Amount 20Y1 Percent
Assets
Current assets
$752,000
%
$602,000
%
Property, plant, and equipment
6,248,000
5,397,000
Intangible assets
1,000,000
1,001,000
Total assets
$8,000,000
%
$7,000,000
%
Liabilities
Current liabilities
$504,000
%
$427,000
%
Long-term liabilities
1,504,000
1,197,000
Total liabilities
$2,008,000
$1,624,000
%
Stockholders' equity
Common stock
1,248,000
%
1,253,000
%
Retained earnings
4,744,000
4,123,000
Total stockholders' equity
$5,992,000
%
$5,376,000
%
Total liabilities and stockholders' equity
$8,000,000
%
$7,000,000
%
expand button
Transcribed Image Text: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. Round your answers to one decimal place. Comparative Balance Sheet December 31, 20Y2 and 20Y1 20Y2 Amount 20Y2 Percent 20Y1 Amount 20Y1 Percent Assets Current assets $752,000 % $602,000 % Property, plant, and equipment 6,248,000 5,397,000 Intangible assets 1,000,000 1,001,000 Total assets $8,000,000 % $7,000,000 % Liabilities Current liabilities $504,000 % $427,000 % Long-term liabilities 1,504,000 1,197,000 Total liabilities $2,008,000 $1,624,000 % Stockholders' equity Common stock 1,248,000 % 1,253,000 % Retained earnings 4,744,000 4,123,000 Total stockholders' equity $5,992,000 % $5,376,000 % Total liabilities and stockholders' equity $8,000,000 % $7,000,000 %
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