Required: 1. Present the balance sheet in common-size format. (Round your percen

Question

Required: 1. Present the balance sheet in common-size format. (Round your percentage answers to 1 decima place L.e., 0.123 is considered as 12.3. Due to rounding, figures may not fully reconcile down a column Lydex Company Common-Size Balance Sheets This Year Last Year Assets Current assets: Cash Marketable securities Accounts receivable, net Inventory Prepaid expenses 0.0 0.0 Total current assets Plant and equipment, net Total assets Liabilities and Stockholders' Equity Liabilities: 0.0 % 0.0 % Current liabilities Note payable, 10% Total liabilities 0.0 0.0 Stockholders' equity Common stock, $70 par value Retained earnings Total stockholders equity Total liabilities and equity 0.0 0.0 % 0.0 0.0 %

Explanation / Answer

COMMON SIZE BALANCE SHEET

COMMON SIZE INCOME STATEMENT

THIS YEAR % LAST YEAR % ASSETS AMOUNT $ AMOUNT $ CURRENT ASSET CASH 945000 5.44 1250000 8.41 MARKETABLE SECURITY 0 0 300000 2.02 ACCONTS RECEICABLE 2900000 16.68 2000000 13.46 INVENTORY 3650000 21.00 2000000 13.46 PREPAID EXPENSES 270000 1.55 210000 1.41 TOTAL CURRENT ASSETS 7765000 44.66 5760000 38.76 PLANT AND EQUIPEMENT NET 9620000 55.34 9100000 61.24 TOTAL ASSETS 17385000 100 14860000 100 LIBALITY & STOCK HOLDERS EQUITY LIBALITES CURRENT LIBALITES 4070000 23.41 3080000 20.73 NOTES PAYBLE 10% 3700000 21.28 3100000 20.86 TOTAL LIBALITES 7770000 44.69 6180000 41.59 SHARE HOLDERS EQUITY COMMON STOCK $70 PAR 7000000 40.26 7000000 47.11 RETAINED EARNNINGS 2615000 15.04 1680000 11.31 TOTAL STOCK HOLDERS EQUITY 9615000 55.31 8680000 58.41 TOTAL LIBALITES & STOCK HOLDERS EQUITY 17385000 100 14860000 100

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