Common-Size Balance Sheets Consider the following balance sheet data for Great B

Question

Common-Size Balance Sheets
Consider the following balance sheet data for Great Buy Co., Inc., an electronics and major appliance retailer, at February 26, 2013 and February 27, 2012 (amounts in thousands):

Prepare common-size balance sheets for each year (use total assets as the base amount for computing percentages). Round percentages to one decimal point. Compute percentages for each "Total" below. Do not add prior percentage amounts to arrive at Totals.

Feb. 26, 2013 Feb. 27, 2012 Cash and Cash Equivalents $63,872 $11,138 Accounts Receivables 56,944 41,968 Merchandise Inventories 641,950 253,991 Other Current Assets 17,844 13,829 Total Current Assets 780,610 320,926 Property and Equipment (net) 176,724 130,442 Other Assets 15,160 7,774 Total Assets $972,494 $459,142 Current Liabilities $406,028 $190,005 Long-Term liabilities 243,022 74,854 Total Liabilities 649,050 264,859 Common Stock 6,087 5,149 Additional Paid-in-Capital 228,089 141,151 Retained Earnings 89,268 47,983 Total Stockholders' Equity 323,444 194,283 Total Liabilities and Stockholders' Equity $972,494 $459,142

Explanation / Answer

COMMON SIZE-BALANCE SHEET 2013 2012 Amount % Amount % Cash and cassh equivalent 63872 6.60% 11138 2.40% Accounts receivable 56,944 5.90% 41968 9.10% Merchandise inventory 641950 66.00% 253991 55.30% Other current assets 17844 1.80% 13829 3% Total Current assets 780610 80.30% 320926 69.80% Property and Equipment 176774 18.20% 130442 28.50% Other Assets 15160 1.50% 7774 1.70% Total Assets 972494 100% 459142 100% Current liabilities 406028 41.70% 190005 41.40% Long term liabilities 243,022 25.00% 74854 16.30% Total liabilities 649050 66.70% 264859 57.70% Common Stock 6087 0.60% 5149 1.10% Aditional paid in capital 228089 23.50% 141151 30.70% Retained earnings 89268 9.20% 47983 10.50% Total Stockholder's equity 323444 33.30% 194283 42.30% Total liabilities and Equity 972494 100% 459142 100%

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