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 346,560 203,000 Property, plant, and equipment 595,650 527,800 Intangible assets 140,790 81,200 Current liabilities 238,260 129,920 Long-term liabilities 433,200 341,040 Common stock 119,130 113,680 Retained earnings 292,410 227,360 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 $346,560 % $203,000 % Property, plant, and equipment 595,650 % 527,800 % Intangible assets 140,790 % 81,200 % Total assets $1,083,000 % $812,000 % Liabilities Current liabilities $238,260 % $129,920 % Long-term liabilities 433,200 % 341,040 % Stockholders' equity Common stock 119,130 % 113,680 % Retained earnings 292,410 % 227,360 % Total liabilities and stockholders' equity $1,083,000 % $812,000 %

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 4PB

See similar textbooks

Related questions

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	346,560		203,000
Property, plant, and equipment	595,650		527,800
Intangible assets	140,790		81,200
Current liabilities	238,260		129,920
Long-term liabilities	433,200		341,040
Common stock	119,130		113,680
Retained earnings	292,410		227,360

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	$346,560	%	$203,000	%
Property, plant, and equipment	595,650	%	527,800	%
Intangible assets	140,790	%	81,200	%
Total assets	$1,083,000	%	$812,000	%
Liabilities
Current liabilities	$238,260	%	$129,920	%
Long-term liabilities	433,200	%	341,040	%
Stockholders' equity
Common stock	119,130	%	113,680	%
Retained earnings	292,410	%	227,360	%
Total liabilities and stockholders' equity	$1,083,000	%	$812,000	%

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.