Vertical Analysis of Balance Sheet Balance sheet data for Kwan Company on December 31, the end of two recent fiscal years, follow: Current Year Previous Year Current assets $308,140 $179,040 Property, plant, and equipment 576,520 522,200 Intangible assets 109,340 44,760 Current liabilities 228,620 134,280 Long-term liabilities 397,600 313,320 Common stock 99,400 104,440 Retained earnings 268,380 193,960 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 CompanyComparative Balance SheetFor the Years Ended December 31 Current year Amount Current year Percent Previous year Amount Previous year Percent Current assets $308,140 fill in the blank 1% $179,040 fill in the blank 2% Property, plant, and equipment 576,520 fill in the blank 3% 522,200 fill in the blank 4% Intangible assets 109,340 fill in the blank 5% 44,760 fill in the blank 6% Total assets $994,000 fill in the blank 7% $746,000 fill in the blank 8% Current liabilities $228,620 fill in the blank 9% $134,280 fill in the blank 10% Long-term liabilities 397,600 fill in the blank 11% 313,320 fill in the blank 12% Common stock 99,400 fill in the blank 13% 104,440 fill in the blank 14% Retained earnings 268,380 fill in the blank 15% 193,960 fill in the blank 16% Total liabilities and stockholders' equity $994,000 fill in the blank 17% $746,000 fill in the blank 18%
Vertical Analysis of Balance Sheet Balance sheet data for Kwan Company on December 31, the end of two recent fiscal years, follow: Current Year Previous Year Current assets $308,140 $179,040 Property, plant, and equipment 576,520 522,200 Intangible assets 109,340 44,760 Current liabilities 228,620 134,280 Long-term liabilities 397,600 313,320 Common stock 99,400 104,440 Retained earnings 268,380 193,960 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 CompanyComparative Balance SheetFor the Years Ended December 31 Current year Amount Current year Percent Previous year Amount Previous year Percent Current assets $308,140 fill in the blank 1% $179,040 fill in the blank 2% Property, plant, and equipment 576,520 fill in the blank 3% 522,200 fill in the blank 4% Intangible assets 109,340 fill in the blank 5% 44,760 fill in the blank 6% Total assets $994,000 fill in the blank 7% $746,000 fill in the blank 8% Current liabilities $228,620 fill in the blank 9% $134,280 fill in the blank 10% Long-term liabilities 397,600 fill in the blank 11% 313,320 fill in the blank 12% Common stock 99,400 fill in the blank 13% 104,440 fill in the blank 14% Retained earnings 268,380 fill in the blank 15% 193,960 fill in the blank 16% Total liabilities and stockholders' equity $994,000 fill in the blank 17% $746,000 fill in the blank 18%
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Vertical Analysis of
Balance sheet data for Kwan Company on December 31, the end of two recent fiscal years, follow:
Current Year | Previous Year | |||
Current assets | $308,140 | $179,040 | ||
Property, plant, and equipment | 576,520 | 522,200 | ||
Intangible assets | 109,340 | 44,760 | ||
Current liabilities | 228,620 | 134,280 | ||
Long-term liabilities | 397,600 | 313,320 | ||
Common stock | 99,400 | 104,440 | ||
268,380 | 193,960 |
Prepare a comparative balance sheet for both years, stating each asset as a percent of total assets and each liability and
Kwan CompanyComparative Balance SheetFor the Years Ended December 31
Current year Amount |
Current year Percent |
Previous year Amount |
Previous year Percent |
|
Current assets | $308,140 | fill in the blank 1% | $179,040 | fill in the blank 2% |
Property, plant, and equipment | 576,520 | fill in the blank 3% | 522,200 | fill in the blank 4% |
Intangible assets | 109,340 | fill in the blank 5% | 44,760 | fill in the blank 6% |
Total assets | $994,000 | fill in the blank 7% | $746,000 | fill in the blank 8% |
Current liabilities | $228,620 | fill in the blank 9% | $134,280 | fill in the blank 10% |
Long-term liabilities | 397,600 | fill in the blank 11% | 313,320 | fill in the blank 12% |
Common stock | 99,400 | fill in the blank 13% | 104,440 | fill in the blank 14% |
Retained earnings | 268,380 | fill in the blank 15% | 193,960 | fill in the blank 16% |
Total liabilities and stockholders' equity | $994,000 | fill in the blank 17% | $746,000 | fill in the blank 18% |
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