Question

Prepare the 2017 and 2018 common-size balance sheets for just dew it. (do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places,
e.G., 32.16.)

Answer 1

Answer:

The accounts and other information were missing, so I looked them up:

                JUST DEW IT CORPORATION

                                 Balance Sheet

                              For 2017 and 2018

                                               2017        2018        Cash

                                                                             source / use

Assets:

Current assets

Cash                                    $12,157     $14,105    source

Accounts receivable        $29,382     $32,815    use

Inventory                           $54,632    $57,204     use

Total current assets           $96,171    $104,124

Non-current assets

Net plant and equip.       $367,241   $375,830    use

Total assets                     $463,412   $479,954

Liabilities and stockholders' equity:

Current liabilities

Accounts payable            $46,382     $49,276      source

Notes payable                  $18,246       $19,784     source

Total current liabilities     $64,628     $69,060

Long term debt

Long-term debt                $49,000     $45,000     use

Owners’ equity

Common stock and

paid-in surplus                 $50,000      $50,000        -

Retained earnings          $299,784     $315,894     source

Total owners' equity       $349,784    $365,894

Total liabilities and

stockholders' equity:       $463,412    $479,954