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 | $59,872 | $7,138 |
| Accounts Receivables | 52,944 | 37,968 |
| Merchandise Inventories | 637,950 | 249,991 |
| Other Current Assets | 13,844 | 9,829 |
| Total Current Assets | 764,610 | 304,926 |
| Property and Equipment (net) | 172,724 | 126,442 |
| Other Assets | 15,160 | 7,774 |
| Total Assets | $952,494 | $439,142 |
| Current Liabilities | $402,028 | $186,005 |
| Long-Term liabilities | 239,022 | 70,854 |
| Total Liabilities | 641,050 | 256,859 |
| Common Stock | 2,087 | 1,149 |
| Additional Paid-in-Capital | 224,089 | 137,151 |
| Retained Earnings | 85,268 | 43,983 |
| Total Stockholders Equity | 311,444 | 182,283 |
| Total Liabilities and Stockholders Equity | $952,494 | $439,142 |
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) | ||||
|---|---|---|---|---|
| Year-ended Feb. 26, 2013 | Common- Size | Year-ended Feb. 27, 2012 | Common- Size | |
| Assets | ||||
| Current Assets | ||||
| Cash and Cash Equivalents | $59,872 | Answer | $7,138 | Answer |
| Accounts Receivables | 52,944 | Answer | 37,968 | Answer |
| Merchandise Inventories | 637,950 | Answer | 249,991 | Answer |
| Other Current Assets | 13,844 | Answer | 9,829 | Answer |
| Total Current Assets | 764,610 | Answer | 304,926 | Answer |
| Property and Equipment (net) | 172,724 | Answer | 126,442 | Answer |
| Other Assets | 15,160 | Answer | 7,774 | Answer |
| Total Assets | $952,494 | Answer | $439,142 | Answer |
| Liabilities | ||||
| Current Liabilities | $402,028 | Answer | $186,005 | Answer |
| Long-Term liabilities | 239,022 | Answer | 70,854 | Answer |
| Total Liabilities | 641,050 | Answer | 256,859 | Answer |
| Stockholders' Equity | ||||
| Common Stock | 2,087 | Answer | 1,149 | Answer |
| Additional Paid-in-Capital | 224,089 | Answer | 137,151 | Answer |
| Retained Earnings | 85,268 | Answer | 43,983 | Answer |
| Total Stockholders Equity | 311,444 | Answer | 182,283 | Answer |
| Total Liabilities and Stockholders Equity | $952,494 | Answer | $439,142 | Answer |
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