Carmon Cupcake Inc.?s December 31 balance sheets included the following data:? Required Express the balance sheets in
Question:
Carmon Cupcake Inc.?s December 31 balance sheets included the following data:?
Required
Express the balance sheets in common-size percentages. Round calculations to two decimal places.
Transcribed Image Text:
2018 2020 2019 $ 70,310 $ 73,600 51,800 Cash. Accounts receivable, net 186,800 125,940 98,400 Inventory. 223,000 165,000 106,000 Prepaid expenses. 18,750 19,400 8,000 510,000 $890,000 Plant and equipment, net. 555,000 $1,036,000 $ 257,800 459,000 $745,000 Total assets. $ 98,500 Accounts payable. $150,500 Long-term notes payable secured by mortgages on plant assets. 195,000 205,000 165,000 Common shares (32,500 shares issued). 325,000 325,000 325,000 Retained earnings. 156,500 258,200 $1,036,000 209,500 $890,000 Total liabilities and equity.. $745,000
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Related Book For
Fundamental Accounting Principles Volume II
ISBN: 978-1260305838
16th Canadian edition
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
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