Question: Activity on FS Analysis - Vertical Analysis RAPHA COMPANY Condensed Statement of Financial Position December 31, 2020 (in thousands) Assets Liabilities & Stockholders' Equity Cash

Activity on FS Analysis - Vertical Analysis

RAPHA COMPANY
Condensed Statement of Financial Position
December 31, 2020 (in thousands)
Assets Liabilities & Stockholders' Equity
Cash 750 Current Liabilities 500
Non-Cash Current 1,250 Long-Term Debts 1,000
Fixed Assets 3,000 Capital Stock 1,500
Retained Earnings 2,000

For 2019 : Net Sales, P1,600; CGS P1,000; Opex, P300; Interests and Tax Charges, P200
For 2020 : Net Sales, P2,000; CGS P1,300; Opex, P300; Interests and Tax Charges, P220

Required:

Prepare 2020 common-size balance sheet, 2019 & 2020 income statement.

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