Problem 3-15 Preparing Standardized Financial Statements [LO1]

Just Dew It Corporation reports the following balance sheet information for 2014 and 2015.

JUST DEW IT CORPORATION 2014 and 2015 Balance Sheets
Assets									Liabilities and Owners Equity
	2014				2015					2014				2015
Current assets									Current liabilities
Cash	$	11,025			$	11,970			Accounts payable	$	43,750			$	47,250
Accounts receivable		22,225				26,670			Notes payable		24,325				24,780
Inventory		44,625				51,450
Total	$	77,875			$	90,090			Total	$	68,075			$	72,030
									Long-term debt	$	35,000			$	21,000
									Owners equity
									Common stock and paid-in surplus	$	42,000			$	42,000
									Retained earnings		204,925				284,970
Net plant and equipment	$	272,125			$	329,910			Total	$	246,925			$	326,970
Total assets	$	350,000			$	420,000			Total liabilities and owners equity	$	350,000			$	420,000

Prepare the 2015 combined common-size, commonbase year balance sheet for Just Dew It. (Do not round intermediate calculations. Round your answers to 4 decimal places, e.g., 32.1616.)

	2014				2015
Assets
Current assets
Cash	$	11,025			$	11,970
Accounts receivable		22,225				26,670
Inventory		44,625				51,450
Total	$	77,875			$	90,090
Fixed assets
Net plant and equipment	$	272,125			$	329,910
Total assets	$	350,000			$	420,000
Liabilities and Owners Equity
Current liabilities
Accounts payable	$	43,750			$	47,250
Notes payable		24,325				24,780
Total	$	68,075			$	72,030
Long-term debt	$	35,000			$	21,000
Owners' equity
Common stock and paid-in surplus	$	42,000			$	42,000
Accumulated retained earnings		204,925				284,970
Total	$	246,925			$	326,970
Total liabilities and owners' equity	$	350,000			$	420,000