Using the following data,

(1) Prepare comparative common-size balance sheets for years 1 and 2 (standardized by sales) and

(2) Briefly outline any significant changes from year 1 to year 2. Sales for year 1 were $80,000, and sales for year 2 were$100,000.

Year 2 Year 1 Assets $ 3,200 6,400 15,000 25,000 $49,600 $ 4,000 8,000 17,000 25,000 $54,000 Cash Accounts receivable Inventory. Property, plant, and equipment (net) Total assets Liabilities and Stockholders' Equity $ 9,000 20,000 $29,000 15,000 10,000 $54,000 $ 7,200 20,000 $27,200 15,000 Accounts payable. Long-term debt Total liabilities Capital stock. Retained earnings. Total liabilities and stockholders' equity. 7,400 $49,600