Presented below are comparative statements of financial position for the Ozturk Ltd.

Instructions
(Round to two decimal places.)
a. Prepare a comparative statement of financial position of Ozturk Ltd. showing the percent each item is of the total assets or total equity and liabilities.
b. Prepare a comparative statement of financial position of Ozturk Ltd. showing the Turkish lira change and the percent change for each item.
c. Of what value is the additional information provided in part (a)?
d. Of what value is the additional information provided in part (b)?

Transcribed Image Text:

OZTURK Ltd. Comparative Statements of Financial Position As of December 31, 2019 and 2018 December 31 2019 2018 Assets t2,585,000 t1,950,000 Fixed assets Accumulated depreciation (1,000,000) (750,000) Prepaid expenses 25,000 25,000 Inventories 1,060,000 980,000 Accounts receivable (net) 220,000 155,000 150,000 Short-term investments 270,000 180,000 Cash 275,000 t3,340,000 t2,785,000 Equity and Liabilities t2,100,000 t1,770,000 Share capital-ordinary Retained earnings 570,000 550,000 Bonds payable 450,000 190,000 Accrued expenses 170,000 200,000 Accounts payable 50,000 75,000 t3,340,000 t2,785,000