Complete a common$-$size vertical balance sheet analysis in proper form for Year $0007$ and Year $0008.$ Com$-$ ment on any changes you consider significant. P$3\mathrm{.}2$

Year $0007$ Year $0008$

Assets

Current Assets

Cash $$11,300$ $$15,400$

Credit card receivables $$4,500$ $$6,300$

Accounts receivable $$11,100$ $$18,900$

Vending inventories $$7,500$ $$8,400$

Prepaid expenses $$4,200$ $$4,100$

Total Current Assets $$38,600$ $$53,100$

Property Plant and Equipment

Land $$81,200$ $$81,200$

Building $$758,100$ $$795,300$

Furnishings $$83,712$ $$93,412$

Equipment $$90,688$ $$90,688$

Accumulated Depreciation $-$$$315,500-$$$335,800$

Glassware, linen inventories $$12,200$ $$15,300$

Net Property Plant and Equipment $$710,400$ $$710,400$

Total Assets $$749,000$ $$749,000$

Liabilities & Stockholders Equity

Current Liabilities

Accounts payable $$9,200$ $$12,200$

Accrued expenses payable $$4,150$ $$4,900$

Taxes payable $$12,150$ $$15,500$

Current portion, mortgage payable $$13,500$ $$11,200$

Total Current Liabilities $$39,000$ $$43,800$

Long Term Liabilities

Mortgage payable $$423,800$ $$412,300$

Total Liabilities $$426,800$ $$456,100$

Stockholders Equity

Capital stock $$125,200$ $$145,200$

Retained earnings $$161,000$ $$191,900$

Total Stockholders Equity $$286,200$ $$337,100$

Total Liabilities & Stockholders Equity $$749,000$ $$793,200$prepare consolidated departmental income statement.

Answer rating: 100% (QA)

CommonSize Vertical Balance Sheet Analysis Year 0007 of Total Assets Year 0008 of Total Assets Change Current Assets 516 710 Increase 194 Significant ... View the full answer