Balance sheet data for Alvarez Company on December 31 the en

Balance sheet data for Alvarez Company on December 31, the end of two recent fiscal years, follows:

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.

	Current Year	Previous Year
Current assets	$300,560		$172,380
Property, plant, and equipment	477,360		437,580
Intangible assets	106,080		53,040
Current liabilities	194,480		119,340
Long-term liabilities	353,600		258,570
Common stock	79,560		86,190
Retained earnings	256,360		198,900

Solution

Alvaraz Company Comparative Balance Sheet For the Years Ended December 31 Current Current Previous Previous year year year year Amount Percent Amount Percent Current assets $300,560 34.0% $172,380 26.0% Property, plant, and equipment 477,360 54.0% 437,580 66.0% Intangible assets 106,080 12.0% 53,040 8.0% Total assets $884,000 100.0% $663,000 100.0% Current liabilities $194,480 22.0% $119,340 18.0% Long-term liabilities 353,600 40.0% 258,570 39.0% Common stock 79,560 9.0% 86,190 13.0% Retained earnings 256,360 29.0% 198,900 30.0% Total liabilities and stockholders\' equity $884,000 100.0% $663,000 100.0%