Question: Comparative Balance Sheets Consider the following balance sheet data for Great Buy Co., Inc. (amounts in thousands): Current Year Prior Year Cash and cash equivalents

Comparative Balance Sheets

Consider the following balance sheet data for Great Buy Co., Inc. (amounts in thousands):

Current Year Prior Year
Cash and cash equivalents $47,898 $5,354
Accounts receivables 42,355 28,476
Merchandise inventories 510,360 187,493
Other current assets 11,075 7,372
Current Assets 611,688 228,695
Property and equipment (net) 132,997 97,360
Other assets 11,673 5,986
Total Assets $756,358 $332,041
Current Liabilities $321,622 $139,504
Long-term liabilities 191,218 53,141
Total Liabilities 512,840 192,645
Common stock 1,607 885
Additional paid-in-capital 172,549 105,606
Retained earnings 69,362 32,905
Total Stockholders Equity 243,518 139,396
Total Liabilities and Stockholders Equity $756,358 $332,041

Prepare a comparative balance sheet, showing increases in dollars and percentages. (Round percentages to one decimal.)

Great Buy Co., Inc.
Comparative Balance Sheets
(Thousands of Dollars)
Increase Percent
Current Year Prior Year (Decrease) Change
Assets
Cash and cash equivalents Answer Answer Answer Answer
Accounts receivables Answer Answer Answer Answer
Merchandise inventories Answer Answer Answer Answer
Other current assets Answer Answer Answer Answer
Current assets Answer Answer Answer Answer
Property and equipment (Net) Answer Answer Answer Answer
Other assets Answer Answer Answer Answer
Total Assets Answer Answer Answer Answer
Liabilities
Current liabilities Answer Answer Answer Answer
Long-term liabilities Answer Answer Answer Answer
Total Liabilities Answer Answer Answer Answer
Stockholders Equity
Common stock Answer Answer Answer Answer
Additional paid-in-capital Answer Answer Answer Answer
Retained earnings Answer Answer Answer Answer
Total Stockholders Equity Answer Answer Answer Answer
Total Liabilities & Stockholders Equity

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!