i need to prepare a vertical common-size balance sheet with the information prov

Question

i need to prepare a vertical common-size balance sheet with the information provided

Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified

Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified

Dec. 31, 2013 Dec. 31, 2012 CURRENT ASSETS: Cash and cash equivalents $ 20,215 $ 4,650 Contracts-in-transit and vehicle receivables, net 225,156 204,396 Accounts and notes receivable, net 135,058 111,228 Inventories, net 1,542,318 1,194,288 Deferred income taxes 21,150 19,750 Prepaid expenses and other current assets 24,041 31,869 Total current assets 1,967,938 1,566,181 PROPERTY AND EQUIPMENT, net 796,356 667,768 GOODWILL 737,303 582,384 INTANGIBLE FRANCHISE RIGHTS 301,505 196,058 OTHER ASSETS 16,376 10,624 Total assets 3,819,478 3,023,015 CURRENT LIABILITIES: Floorplan notes payable - credit facility and other 1,143,104 968,959 Offset account related to floorplan notes payable - credit facility (56,198) (112,261) Floorplan Notes Payable Manufacturer Affiliates 346,572 211,965 Current maturities of long-term debt and short-term financing 36,225 31,358 Accounts payable 254,930 167,439 Accrued expenses 140,543 128,118 Total current liabilities 1,865,176 1,395,578 LONG-TERM DEBT, net of current maturities 663,689 555,016 DEFERRED INCOME TAXES 152,291 94,130 LIABILITIES FROM INTEREST RATE RISK MANAGEMENT ACTIVITIES 26,078 43,089 OTHER LIABILITIES 47,975 42,413 COMMITMENTS AND CONTIGENCIES (NOTE 14)       TEMPORARY EQUITY - redeemable equity portion of the 3.00% Convertible Senior Notes 29,094 32,505 STOCKHOLDERS' EQUITY: Preferred stock 0 0 Common stock 257 258 Additional paid-in capital 368,641 332,836 Retained earnings 776,101 677,864 Accumulated other comprehensive loss (51,677) (33,057) Treasury stock, at cost (58,147) (117,617) Stockholders' Equity Attributable to Parent 1,035,175 860,284 Total liabilities and stockholders' equity $ 3,819,478 $ 3,023,015

Explanation / Answer

common size vertical balance sheet Dec. 31, 2013 Percent Dec. 31, 2012 Percent CURRENT ASSETS: Cash and cash equivalents 20,215 0.53% 4,650 0.15% Contracts-in-transit and vehicle receivables, net 225,156 5.89% 204,396 6.76% Accounts and notes receivable, net 135,058 3.54% 111,228 3.68% Inventories, net 1,542,318 40.38% 1,194,288 39.51% Deferred income taxes 21,150 0.55% 19,750 0.65% Prepaid expenses and other current assets 24,041 0.63% 31,869 1.05% Total current assets 1,967,938 51.52% 1,566,181 51.81% PROPERTY AND EQUIPMENT, net 796,356 20.85% 667,768 22.09% GOODWILL 737,303 19.30% 582,384 19.27% INTANGIBLE FRANCHISE RIGHTS 301,505 7.89% 196,058 6.49% OTHER ASSETS 16,376 0.43% 10,624 0.35% Total assets 3,819,478 100.00% 3,023,015 100.00% CURRENT LIABILITIES: Floorplan notes payable - credit facility and other 1,143,104 29.93% 968,959 32.05% Offset account related to floorplan notes payable - credit facility -56,198 -1.47% -112,261 -3.71% Floorplan Notes Payable Manufacturer Affiliates 346,572 9.07% 211,965 7.01% Current maturities of long-term debt and short-term financing 36,225 0.95% 31,358 1.04% Accounts payable 254,930 6.67% 167,439 5.54% Accrued expenses 140,543 3.68% 128,118 4.24% Total current liabilities 1,865,176 48.83% 1,395,578 46.17% LONG-TERM DEBT, net of current maturities 663,689 17.38% 555,016 18.36% DEFERRED INCOME TAXES 152,291 3.99% 94,130 3.11% LIABILITIES FROM INTEREST RATE RISK MANAGEMENT ACTIVITIES 26,078 0.68% 43,089 1.43% OTHER LIABILITIES 47,975 1.26% 42,413 1.40% TEMPORARY EQUITY - redeemable equity portion of the 3.00% Convertible Senior Notes 29,094 0.76% 32,505 1.08% STOCKHOLDERS' EQUITY: Common stock 257 0.01% 258 0.01% Additional paid-in capital 368,641 9.65% 332,836 11.01% Retained earnings 776,101 20.32% 677,864 22.42% Accumulated other comprehensive loss -51,677 -1.35% -33,057 -1.09% Treasury stock, at cost -58,147 -1.52% -117,617 -3.89% Stockholders' Equity Attributable to Parent 1,035,175 27.10% 860,284 28.46% Total liabilities and stockholders' equity 3,819,478 100.00% 3,023,015 100.00%

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