Spicer Inc. showed the following alphabetized list of adjusted account balances at December $31,2023.$ Assume that the preferred shares are non$-$cumulative.

Accounts Payable $ $25,960$

Accounts Receivable $39,400$

Accumulated depreciation, Equipment $10,740$

Accumulated depreciation, Warehouse $21,480$

Cash $8,600$

Cash Dividends $19,800$

Common Shares $114,000$

Equipment $78,600$

Income Tax Expense $40,800$

Land $119,600$

Notes Payable, due in $202633,800$

Operating Expenses $109,400$

Preferred Shares $39,400$

Retained Earnings $27,920$

Revenue $273,700$

Warehouse $130,800$

$$   

 

Required:

Prepare a classified balance sheet at December $31,2023.($Enter all amounts as positive values.$)$

$1.$ What percentage of the total assets is owned by the shareholders? $($Round your final answer to the nearest whole percent.$)$

$2.$ What percentage of Spicer Inc. is equity financed? $($Round your final answer to the nearest whole percent.$)$

$3.$ What percentage of Spicer Inc. is financed by debt? $($Round your final answer to the nearest whole percent.$)$

$4.$ What percentage of the total assets is owned by the common shareholders? $($Round your final answer to the nearest whole percent.$)$

$5.$ What percentage of the assets is financed by the preferred shareholders? $($Round your final answer to the nearest whole percent.$)$

Answer rating: 100% (QA)

Classified Balance Sheet at December 31 2023 Assets Current Assets Cash 8600 Accounts Receivable 394... View the full answer