QUESTION 2 The comparative balance sheet for Seasons Corp is shown below. Expres

Question

QUESTION 2 The comparative balance sheet for Seasons Corp is shown below. Express the balance sheet in common-size percentages. (Round all percentages to two decimals) Seasons Corp Comparative Balance Sheet December 31. Years 1-3 Year 2 Year l Year 5 Cash Accounts recevable Merchandise inventory Plant and equipment (net) Total Assets S 15.000 23.000 17,000 27.000 73,000 351.000 182.000 69.000 157.000 343.000 33.000 109.000 S 584.000 516.000 299.000 Account payable Bonds payable Common shares Retained earnings S 113,000 49.000 47.000 62.000 150,000 40.000 Total Liabilites and Equity 584.000 516,000 299,000 121.000 250,000 100.000 143,000 250,000 74.000

Explanation / Answer

Comparative Balance sheet for seasons corp. is expressed as Balance sheet in common size percentages.

Particulars Year 3 Year 3 (%) Year 2 Year 2(%) Year 1 Year 1 (%) Cash 15000 2.57 23000 4.46 17000 5.69 Accounts Receivable 69000 11.82 33000 6,4 27000 9.03 Merchandise Inventory 157000 26,88 109000 21,12 73000 24.41 Plant &Equipment (net) 343000 58.73 351000 68.02 182000 60.87 Total Assets 584000 100 516000 100 299000 100 Accounts Payable 113000 19.35 49000 9.5 47000 15.72 Bonds Payable 121000 20.72 143000 27.71 62000 20.74 Common Shares 250000 42.81 250000 48.45 150000 50.17 Retained Earnings 100000 17.12 74000 14.34 40000 13.37 Total Liabilities & Equity 584000 100 516000 100 299000 100

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