Question: Common-Size Balance Sheets Consider the following balance sheet data for Great Buy Co., Inc., an electronics and major appliance retailer, at February 26, 2013 and

Common-Size Balance Sheets Consider the following balance sheet data for Great Buy Co., Inc., an electronics and major appliance retailer, at February 26, 2013 and February 27, 2012 (amounts in thousands):

Feb. 26, 2013 Feb. 27, 2012
Cash and Cash Equivalents $60,872 $8,138
Accounts Receivables 53,944 38,968
Merchandise Inventories 638,950 250,991
Other Current Assets 13,844 9,829
Total Current Assets 767,610 307,926
Property and Equipment (net) 172,724 126,442
Other Assets 15,160 7,774
Total Assets $955,494 $442,142
Current Liabilities $402,028 $186,005
Long-Term liabilities 239,022 70,854
Total Liabilities 641,050 256,859
Common Stock 3,087 2,149
Additional Paid-in-Capital 225,089 138,151
Retained Earnings 86,268 44,983
Total Stockholders' Equity 314,444 185,283
Total Liabilities and Stockholders' Equity $955,494 $442,142

Prepare common-size balance sheets for each year (use total assets as the base amount for computing percentages). Round percentages to one decimal point. Compute percentages for each "Total" below. Do not add prior percentage amounts to arrive at Totals.

GREAT BUY COMPANY, INC. Common-Size Balance Sheets (Percentage of Total Assets)
Feb. 26, 2013 Feb. 27, 2012
Assets
Current Assets
Cash and Cash Equivalents Answer

%
Answer

%
Accounts Receivables Answer

%
Answer

%
Merchandise Inventories Answer

%
Answer

%
Other Current Assets Answer

%
Answer

%
Total Current Assets Answer

%
Answer

%
Property and Equipment (net) Answer

%
Answer

%
Other Assets Answer

%
Answer

%
Total Assets Answer

%
Answer

%
Liabilities
Current Liabilities Answer

%
Answer

%
Long-Term liabilities Answer

%
Answer

%
Total Liabilities Answer

%
Answer

%
Stockholders' Equity
Common Stock Answer

%
Answer

%
Additional Paid-in-Capital Answer

%
Answer

%
Retained Earnings Answer

%
Answer

%
Total Stockholders' Equity Answer

%
Answer

%
Total Liabilities and Stockholders' Equity Answer

%
Answer

%

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!