Balance sheet data for Alvarez Company on December 31, the end of two recent fiscal years, follow: 1 Current Year Previous Year
2 Current assets $2,500,000.00 $1,840,000.00
3 Property, plant, and equipment 5,600,000.00 6,072,000.00
4 Intangible assets 1,900,000.00 1,288,000.00
5 Current liabilities 2,000,000.00 1,380,000.00
6 Long-term liabilities 3,400,000.00 3,680,000.00
7 Common stock 920,000.00 920,000.00
8 Retained earnings 3,680,000.00 3,220,000.00
a. 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.
b. 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.
Alvaraz Company
Comparative Balance Sheet
For the Years Ended December 31
1 Current Year Current Year Previous Year Previous Year
2 Amount Percent Amount Percent
3 Current assets $2,500,000.00 $1,840,000.00
4 Property, plant,
and equipment 5,600,000.00 6,072,000.00
5 Intangible assets 1,900,000.00 1,288,000.00
6 Total assets $10,000,000.00 $9,200,000.00
7 Current liabilities $2,000,000.00 $1,380,000.00
8 Long-term liabilities 3,400,000.00 3,680,000.00
9 Common stock 920,000.00 920,000.00
10 Retained earnings 3,680,000.00 3,220,000.00
11 Total liabilities and
stockholders’ equity $10,000,000.00 $9,200,000.00