A-Prepare a common size balance sheet for Carver Enterprises. Complete the common-size balance sheet: (Round to one decimal place.)

B-Prepare a common-size income statement for Carver Enterprises. Complete the common-size income statement: (Round to one decimal place.)

   

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Balance Sheet Cash and marketable securities Accounts receivable Inventories Current assets Net property plant and equipment Total assets Accounts payable Short-term debt Current liabilities Long-term liabilities Total liabilities Total owners equity Total liabilities and owners equity Income Statement Revenues Cost of goods sold Gross profit Operating expenses Net operating income Interest expense Earnings before taxes Taxes Net income 2013 $490 5,990 9,550 $16,030 17,030 $33,060 $7,220 6,800 $14,020 7,010 $21,030 12,030 $33,060 2013 $30,020 (19,950) $10,070 (7,960) $2,110 (940) $1,170 (425) $745 Common-Size Income Statement 2013 Revenues Cost of goods sold Gross profit Operating expenses Net operating income Interest expense Earnings before taxes Taxes Net income $30,020 % (19,950) $ 10,070 (7,960) $ 2,110 (940) $1,170 (425) $745 % % % % Common-Size Balance Sheet Cash and marketable securities $ Accounts receivable Inventories Current assets Net property plant and equipment 17,030 Total assets $33,060 % $ 7,220 % 6,800 $ 14,020 % 7,010 $ 21,030% 2013 Accounts payable Short-term debt Current liabilities Long-term liabilities 490 % 5,990 9,550 $ 16,030% Total liabilities Total owners equity 12,030 Total liabilities and owners equity $33,060 % Balance Sheet Cash and marketable securities Accounts receivable Inventories Current assets Net property plant and equipment Total assets Accounts payable Short-term debt Current liabilities Long-term liabilities Total liabilities Total owners equity Total liabilities and owners equity Income Statement Revenues Cost of goods sold Gross profit Operating expenses Net operating income Interest expense Earnings before taxes Taxes Net income 2013 $490 5,990 9,550 $16,030 17,030 $33,060 $7,220 6,800 $14,020 7,010 $21,030 12,030 $33,060 2013 $30,020 (19,950) $10,070 (7,960) $2,110 (940) $1,170 (425) $745 Common-Size Income Statement 2013 Revenues Cost of goods sold Gross profit Operating expenses Net operating income Interest expense Earnings before taxes Taxes Net income $30,020 % (19,950) $ 10,070 (7,960) $ 2,110 (940) $1,170 (425) $745 % % % % Common-Size Balance Sheet Cash and marketable securities $ Accounts receivable Inventories Current assets Net property plant and equipment 17,030 Total assets $33,060 % $ 7,220 % 6,800 $ 14,020 % 7,010 $ 21,030% 2013 Accounts payable Short-term debt Current liabilities Long-term liabilities 490 % 5,990 9,550 $ 16,030% Total liabilities Total owners equity 12,030 Total liabilities and owners equity $33,060 %

Answer rating: 100% (QA)

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