Refer to the Kepler Company information as shown in Problem 16-45. Round all percentages to one decimal place.

Required:

1. Express each item in the asset section of the balance sheet as a percentage of total assets for each year.

2. Express each item in the liabilities and equity section as a percentage of total liabilities and equity for each year.

3. Express each item in the income statement as a percentage of sales for each year.

Problem 16-45

Kepler Company Comparative Balance Sheets This Year Last Year Assets Current assets: $ 50,000 300,000 600,000 $100,000 150,000 400,000 30,000 $680,000 150,000 $830,000 Cash Accounts receivable, net Inventory Prepaid expenses Total current assets 25,000 $ 975,000 125,000 $1,100,000 Property and equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities: $ 400,000 200,000 $ 600,000 100,000 $ 700,000 Accounts payable Short-term notes payable $290,000 60,000 $350,000 150,000 $500,000 Total current liabilities Long-term bonds payable, 12% Total liabilities Stockholders' equity: Common stock (100,000 shares) Retained earnings Total liabilities and equity 200,000 200,000 $1,100,000 200,000 130,000 $830,000