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Question
Express the following balance sheets for Alberts Company in common-size percents.
| ALBERTS COMPANY Balance Sheet December 31, 2013 and 2014 | ||
| 2013 | 2014 | |
| Assets | ||
| Cash | $ 22,000 | $ 43,000 |
| Accounts receivable | 42,000 | 38,000 |
| Merchandise inventory | 52,000 | 61,000 |
| Prepaid insurance | 9,000 | 6,000 |
| Long-term investments | 20,000 | 49,000 |
| Plant assets (net) | 218,000 | 218,000 |
| Total assets | $363,000 | $415,000 |
| Liabilities and Equity | ||
| Current liabilities | $ 75,000 | $ 62,000 |
| Long-term liabilities | 36,000 | 45,000 |
| Common stock | 150,000 | 150,000 |
| Retained earnings | 102,000 | 158,000 |
| Total liabilities and equity | $363,000 | $415,000 |
Answer
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