Problem 3-13 Preparing Standardized Financial Statements [LO1] Just Dew It Corporation reports the following balance sheet information for 2020 and 2021. Assets Current assets Cash Accounts receivable Inventory Total 2020 Total assets JUST DEW IT CORPORATION 2020 and 2021 Balance Sheets 2021 Liabilities and Owners' Equity Current liabilities $ 6,560 $ 8,600 16,160 22,600 61,280 74,600 $ 84,000 $105,800 $ $ Net plant and equipment 236,000 294,200 $ $ 320,000 400,000 Accounts payable Notes payable Total Total Long-term debt Owners' equity Common stock and paid-in surplus $ 40,000 $ 40,000 Retained earnings 174,560 253,400 Total liabilities and owners' equity 2020 2021 $ 51,840 $53,000 21,600 23,600 Prepare the 2020 and 2021 common-size balance sheets for Just Dew It. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) $73,440 $76,600 $32,000 $30,000 $ 214,560 $ 293,400 $ $ 320,000 400,000 5 Prepare the 2020 and 2021 common-size balance sheets for Just Dew It. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total Total liabilities and owners' equity $ $ $ $ $ $ $ $ $ $ 2020 6,560 16,160 61,280 84,000 236,000 320,000 51,840 21,600 73,440 32,000 40,000 174,560 214,560 320,000 % % % % % % % % % % % % % %