Prepare the 2020 and 2021 common-size balance sheets for Just Dew It. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)

 

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Just Dew It Corporation reports the following balance sheet information for 2020 and 2021. Assets Current assets Cash Accounts receivable Inventory Total Total assets JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets 2021 2020 $8,250 $12,240 34,500 40,560 58,500 86,160 $ 101,250 $ 138,960 $ 375,000 Liabilities and Owners' Equity Current liabilities Net plant and equipment $273,750 $341,040 Total $ 480,000 Accounts payable Notes payable 2020 Total liabilities and owners' equity Total Long-term debt Owners' equity Common stock and paid-in surplus $ 60,000 $ 60,000 Retained earnings 196,875 303,600 2021 $ 43,500 $48,240 29,625 32,160 $73,125 $80,400 $ 45,000 $36,000 $ $ 256,875 363,600 $375,000 $ 480,000 Just Dew It Corporation reports the following balance sheet information for 2020 and 2021. Assets Current assets Cash Accounts receivable Inventory Total Total assets JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets 2021 2020 $8,250 $12,240 34,500 40,560 58,500 86,160 $ 101,250 $ 138,960 $ 375,000 Liabilities and Owners' Equity Current liabilities Net plant and equipment $273,750 $341,040 Total $ 480,000 Accounts payable Notes payable 2020 Total liabilities and owners' equity Total Long-term debt Owners' equity Common stock and paid-in surplus $ 60,000 $ 60,000 Retained earnings 196,875 303,600 2021 $ 43,500 $48,240 29,625 32,160 $73,125 $80,400 $ 45,000 $36,000 $ $ 256,875 363,600 $375,000 $ 480,000

Answer rating: 100% (QA)

Answer 2020 CommonSize Balance Sheet Assets Percentage Current Assets Cash 220 Accounts Receivable 9... View the full answer