McCormick & Company, Inc. is one of the world€™s leading producers of spices, herbs, seasonings, condiments, and other flavorings for foods. Its products are sold to consumers, with some of the leading brands of spices and seasonings, as well as to industrial producers of foods. McCormick€™s consolidated balance sheets for 2012 and 2013 follow.

Refer to the information for McCormick above.
Required:
Compute the common-size balance sheet for 2013 and the rate of change balance sheet for 2013. Which two asset accounts and which two liability and shareholders€™ equity accounts are the largest relative to total assets in 2013? Which two asset accounts and which two liability and shareholders€™ equity accounts grew at the fastest rates in 2013?

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McCormick: Consolidated Balance Sheets Dollar Amounts in Millions 2012 2013 Assets Current Assets Cash and Equivalents Receivables Inventories Prepaid Expenses and Other Assets $ 79.0 63.0 495.5 676.9 134.8 $ 1,285.4 1,370.2 576.6 1,695.3 9.5 333.4 371.0 4,165.4 4449.7 465.9 615.0 125.5 Total Current Assets Property and Equipment, Net Goodwill Intangible Assets, net Invesłmens and Other Assets 547.3 323.5 313.9 Total Assets Liabilities and Shareholders' Equity Current Liabilities Short-Term Borrowings Current Portion of Long-Term Debt Trade Accounts Payable Other Accrued Liabilities 140.3 211.6 2.5 387.3 461.7 $ 1,187.6 S1,063.1 252.3 375.8 419.2 Total Current Liabilities Long-Term Debt Other Long-Term Liabilties 2465 419.9 2465.2 S2,502.0 498.4 Total Liabilities 962.4 970.4 0.3) 15.2 $ 1,700.2 1,947.7 4,165.4 4,449.7 908.2 934.6 Common Stock Retained Earnings Accumulaled Other Comprehensive Loss Noncontrolling interests (159.9) 17.3 Total Shareholders' Equity Total Liabilities and Shareholders' Equity