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Home Q & A Board Other Fields Homework Help Business Accounting
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cmartinez034 cmartinez034
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A month ago
The 2020 and 2021 balance sheets for Ottoman Manufacturing Company appear below:


​​20202021
Current Assets​​
  Cash$   16,000$   15,000
  Accounts receivable, net20,00019,000
  Inventory  30,000   28,000
Total current assets66,00062,000
Plant & equipment, net  60,000  40,000
Total assets$126,000$102,000
​​​
Current liabilities$  20,000$  30,000
Noncurrent liabilities    60,000    40,000
Total liabilities80,00070,000
Stockholders' equity​​
  Common stock2,0002,000
  Additional paid-In capital4,0004,000
  Retained earnings   40,000   26,000
Total stockholders' equity   46,000   32,000
Total liabilities and stockholders' equity$126,000$102,000
Required:

Prepare a common-size balance sheet for 2021.
Textbook 
Managerial Accounting

Managerial Accounting


Edition: 4th
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tpriest1tpriest1
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A month ago
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​​Common-
​2021size
Current Assets​​
  Cash$  15,00014.71%
  Accounts receivable, net19,00018.63%
  Inventory  28,000  27.45%
Total current assets62,00060.79%
Plant & equipment, net   40,000  39.21%
Total assets$102,000100.00%
​​​
Current liabilities$  30,00029.41%
Noncurrent liabilities   40,000  39.22%
Total liabilities70,00068.63%
Stockholders' equity​​
  Common stock2,0001.96%
  Additional paid-In capital4,0003.92%
  Retained Earnings   26,000  25.49%
Total stockholders' equity   32,000  31.37%
Total liabilities and stockholders' equity$102,000100.00%
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cmartinez034 Author
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A month ago
This helped my grade so much Perfect
lolaww
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Yesterday
Correct Slight Smile TY
joyceess
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2 hours ago
Thank you, thank you, thank you!
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