Question: Following are comparative balance sheets spanning 3 years. Express the balance sheets in common-size percentages for each year. Comparative Balance Sheets For Years Ended

Following are comparative balance sheets spanning 3 years. Express the balance sheets in common-size percentages for each year. Comparative Balance Sheets For Years Ended December 31 Current Year Cash Accounts receivable, net Merchandise inventory Plant assets, net Total assets Accounts payable Long-term notes payable Common stock Retained earnings Total liabilities and equity 1 Year Ago 2 Years Ago $ 760 $ 639 $ 650 1,064 1,278 1,170 1,900 1,562 1,300 3,876 3,621 3,380 $ 7,600 $ 7,100 $ 6,500 $ 1,520 1,672 3,040 1,368 $ 497 1,846 3,763 994 $ 975 1,430 3,250 845 $ 7,600 $ 7,100 $ 6,500 Common-Size Comparative Balance Sheets For Years Ended December 31 Current Year 1 Year Ago 2 Years Ago % % % Cash Accounts receivable, net % % % Merchandise inventory Plant assets, net Total assets % % % % % % % % % Accounts payable 7% % % Long-term notes payable % % % Common stock % % % Retained earnings % % % Total liabilities and equity % % %
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