Question: Common-Size Balance Sheets Consider the following balance sheet data for Davis Co., Inc., an electronics and major appliance retailer, at February 26, 2019 and February


Common-Size Balance Sheets Consider the following balance sheet data for Davis Co., Inc., an electronics and major appliance retailer, at February 26, 2019 and February 27, 2018 (amounts in thousands): Feb. 26, 2019 Feb. 27, 2018 Cash and Cash Equivalents $60,872 $7,138 Accounts Receivables 52,944 37,968 Merchandise Inventories 637,950 249,991 Other Current Assets 13,844 9,729 Total Current Assets 765,610 304,826 Property and Equipment (net) 172,724 126,442 Other Assets 15,160 7,774 Total Assets $953,494 $439,042 Current Liabilities $402,028 $186,005 Long-Term liabilities 239,022 70,854 Total Liabilities 641,050 256,859 Common Stock 3,087 1,149 Additional Paid-in-Capital 224,089 137,151 Retained Earnings 85,268 43,883 Total Stockholders' Equity 312,444 182,183 Total Liabilities and Stockholders' Equity $953,494 $439,042 Prepare common-size balance sheets for each year (use total assets as the base amount for computing percentages). Instructions: Round percentages to one decimal place (ex: 0.2345=23.5%). Compute percentages for each "Total" (do not add prior percentage amounts to arrive at Totals)
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
