Question: Plz explain the steps, will give a thumbs up for a clear and concise answer. 4.2 Prepare a common-size balance sheet from the following information
Plz explain the steps, will give a thumbs up for a clear and concise answer.
4.2 Prepare a common-size balance sheet from the following information for Abercrombie Supply Company Abererombie Supply Company Balance Sheet as of June 30, 2017 (S thousands) Liabilities and Equity: Accounts payable Notes payable Assets S 817,845 S 396,494 Cash and marketable securities 101,229 708,275 Accounts receivable 41,322 Accrued income taxes 1,152,398 Inventory $960,396 Total current liabilities 42,115 Other current assets ,149,520 $2.299.282 Long-term debt Total current assets $2,109.916 1,312,137 Total liabilities 1,978.455 Net plant and equipment Common stock 855,684 Retained earnings Total common equity Total liabilities and equity $2,167,821 $4,277,737 $4.277,737 Total assets
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