Following are balance sheets for Narragansett Warren as of
Following are balance sheets for Narragansett & Warren as of December 31, 2008 and 2009.
Required:
(a) How are common-sized financial statements used by decision makers?
(b) Prepare common-sized balance sheets for Narragansett & Warren as of December 31, 2008 and 2009.
(c) What major structural changes occurred in this business’s balance sheet during 2009? What factors may have accounted for these changes?
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