In addition to common–size financial statements, common–base year financial statements are often used. Common–base year financial statements are constructed by dividing the current year account value by the base year account value. The result shows the growth rate in the account. Using the following financial statements, construct the common-size balance sheet and common–base year balance sheet for the company. Use 2020 as the base year.

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Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Assets 2020 JARROW CORPORATION 2020 and 2021 Balance Sheets 2021 $ 12,032 $ 15,176 $362,374 30,709 34,969 55,288 63,723 $ 98,029 $ 113,868 $423,995 $460,403 $ 537,863 Liabilities and Owners' Equity 2020 Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total Total liabilities and owners' equity 2021 $ 61,407 $ 64,385 26,228 24,735 $ 87,635 $ 89,120 $37,500 $ 43,500 $59,000 $ 64,500 276,268 340,743 $335,268 $405,243 $460,403 $537,863