Just Dew It Corporation reports the following balance sheet information for 2020 and 2021. JUST DEW IT
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Question:
Just Dew It Corporation reports the following balance sheet information for 2020 and 2021. |
JUST DEW IT CORPORATION | |||||
---|---|---|---|---|---|
2020 and 2021 Balance Sheets | |||||
Assets | 2020 | 2021 | Liabilities and Owners Equity | 2020 | 2021 |
Current assets | Current liabilities | ||||
Cash | $ 14,588 | $ 17,631 | Accounts payable | $ 55,653 | $ 63,073 |
Accounts receivable | 35,258 | 41,019 | Notes payable | 21,895 | 25,324 |
Inventory | 65,567 | 71,505 | |||
Total | $ 115,413 | $ 130,155 | Total | $ 77,548 | $ 88,397 |
Long-term debt | $ 58,000 | $ 62,000 | |||
Owners equity | |||||
Common stock and paid-in surplus | $ 60,000 | $ 60,000 | |||
Retained earnings | 397,278 | 418,179 | |||
Net plant and equipment | $ 477,413 | $ 498,421 | Total | $ 457,278 | $ 478,179 |
Total assets | $ 592,826 | $ 628,576 | Total liabilities and owners equity | $ 592,826 | $ 628,576 |
Prepare the 2021 common-base year balance sheet for Just Dew It. (Do not round intermediate calculations and round your answers to 4 decimal places, e.g., 32.1616.) |
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