Balance sheet data for Kwan Company on December 31, the end of two recent fiscal years, follow: Current Year Previous Year Current assets $285,820 $179,920 Property, plant, and equipment 516,320...


Balance sheet data for Kwan Company on December 31, the end of two recent fiscal years, follow:<br>Current Year<br>Previous Year<br>Current assets<br>$285,820<br>$179,920<br>Property, plant, and equipment<br>516,320<br>463,640<br>Intangible assets<br>119,860<br>48,440<br>Current liabilities<br>175,180<br>96,880<br>Long-term liabilities<br>378,020<br>283,720<br>Common stock<br>92,200<br>89,960<br>Retained earnings<br>276,600<br>221,440<br>Prepare a comparative balance sheet for both years, stating each asset as a percent of total assets and each liability and stockholders' equity item as a percent of the total liabilities and stockholders' equity. If required, round percentages to one decimal place.<br>Kwan Company<br>Comparative Balance Sheet<br>For the Years Ended December 31<br>Current<br>Current<br>Previous Previous<br>year<br>year<br>year<br>year<br>Amount Percent<br>Amount<br>Percent<br>Current assets<br>$285,820<br>$179,920<br>Property, plant, and equipment<br>516,320<br>%<br>463,640<br>%<br>Intangible assets<br>119,860<br>48,440<br>Total assets<br>$922,000<br>$692,000<br>Current liabilities<br>$175,180<br>%<br>$96,880<br>%<br>Long-term liabilities<br>378,020<br>%<br>283,720<br>%<br>Common stock<br>92,200<br>89,960<br>%<br>Retained earnings<br>276,600<br>%<br>221,440<br>Total liabilities and stockholders' equity $922,000<br>$692,000<br>%<br>

Extracted text: Balance sheet data for Kwan Company on December 31, the end of two recent fiscal years, follow: Current Year Previous Year Current assets $285,820 $179,920 Property, plant, and equipment 516,320 463,640 Intangible assets 119,860 48,440 Current liabilities 175,180 96,880 Long-term liabilities 378,020 283,720 Common stock 92,200 89,960 Retained earnings 276,600 221,440 Prepare a comparative balance sheet for both years, stating each asset as a percent of total assets and each liability and stockholders' equity item as a percent of the total liabilities and stockholders' equity. If required, round percentages to one decimal place. Kwan Company Comparative Balance Sheet For the Years Ended December 31 Current Current Previous Previous year year year year Amount Percent Amount Percent Current assets $285,820 $179,920 Property, plant, and equipment 516,320 % 463,640 % Intangible assets 119,860 48,440 Total assets $922,000 $692,000 Current liabilities $175,180 % $96,880 % Long-term liabilities 378,020 % 283,720 % Common stock 92,200 89,960 % Retained earnings 276,600 % 221,440 Total liabilities and stockholders' equity $922,000 $692,000 %

Jun 11, 2022
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