Question: Using the following data, prepare a common-size balance sheet. Sales for the year were$75,000. Assets Current assets: Cash ..... Accounts receivable Inventory. $4,800 9,300 6,000

Using the following data, prepare a common-size balance sheet. Sales for the year were$75,000.

Assets Current assets: Cash ..... Accounts receivable Inventory. $4,800 9,300 6,000 $20,100 33,000 5,700 $58,800 Total current assets. Property, plant, and equipment (net) Goodwill Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable. Unearned revenue.. Total current liabilities Long-term debt $7,200 3,800 $11,000 18,000 $29,000 15,000 14,800 $58,800 Total liabilities. Capital stock Retained earnings. Total liabilities and stockholders' equity.

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