M&M Company’s year-end balance sheets show the following: 

Express the balance sheets in common-size percents. Round to the nearest one-tenth of a percent. Comment on your results. 

Transcribed Image Text:

$ 30,800 $ 35,625 $ 36,800 49,200 53,000 4,000 229,500 Cash Accounts receivable, net Merchandise inventory. Prepaid expenses . Plant assets, net 88,500 111,500 62,500 82,500 9,375 255,000 9,700 277,500 Total assets $518,000 $445,000 $372,500 $128,900 $ 75,250 $ 49,250 Accounts payable ..... Long-term notes payable secured by mortgages on plant assets . Common stock, $10 par value Retained earnings 82,500 162,500 78,250 97,500 162,500 102,500 162,500 ...... 129,100 104,750 Total liabilities and equity $518,000 $445,000 $372,500 $ 30,800 $ 35,625 $ 36,800 49,200 53,000 4,000 229,500 Cash Accounts receivable, net Merchandise inventory. Prepaid expenses . Plant assets, net 88,500 111,500 62,500 82,500 9,375 255,000 9,700 277,500 Total assets $518,000 $445,000 $372,500 $128,900 $ 75,250 $ 49,250 Accounts payable ..... Long-term notes payable secured by mortgages on plant assets . Common stock, $10 par value Retained earnings 82,500 162,500 78,250 97,500 162,500 102,500 162,500 ...... 129,100 104,750 Total liabilities and equity $518,000 $445,000 $372,500