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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 year 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 year ago
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cmartinez034 Author
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A year ago
Helped a lot
riptide
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Yesterday
You make an excellent tutor!
taydav
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2 hours ago
Thanks
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