Question

Use your knowledge of balance sheets and common-size statements
to fill in the missing dollar amounts:
ASSETS
Cash $25,000 3.4%
Accounts receivable $125,000 _____
Inventory _______ 27.1%
Total current assets $350,000 ______
Gross plant and equipment _______ 95.0%
Less: accumulated depreciation $313,000 42.5%
Net plant and equipment _______ ______
Total assets $737,000 100.0%
LIABILITIES
Accounts payable _______ 15.7%
Notes payable $29,000 3.9%
Total current liabilities _______ _____
Long-term debt $248,000 33.6%
Total liabilities $393,000 _____
Common stock ($.01 par,
450,000 shares) $4,500 0.6%
Paid-in capital $220,500 29.9%
Retained earnings _______ _____
Total stockholders’ equity $344,000 46.7%
Total liabilities and equity _______ 100.0%

Answer 1

Use your knowledge of balance sheets and common-size statements
to fill in the missing dollar amounts:
ASSETS
Cash $25,000 3.4%
Accounts receivable $125,000 17.0%
Inventory 200,000 27.1%
Total current assets $350,000 47.5%
Gross plant and equipment $700,000 95.0%
Less: accumulated depreciation $313,000 42.5%
Net plant and equipment $387,000 52.5%
Total assets $737,000 100.0%
LIABILITIES
Accounts payable $116,000 15.7%
Notes payable $29,000 3.9%
Total current liabilities $145.000 19.7%
Long-term debt $248,000 33.6%
Total liabilities $393,000 53.3%
Common stock ($.01 par,450,000 shares) $4,500 0.6%
Paid-in capital $220,500 29.9%
Retained earnings $119,000 16.1%
Total stockholders’ equity $344,000 46.7%
Total liabilities and equity $737,000 100.0%