3. Balance sheet data for Alvarez Company on December 31, the end of two recent fiscal years, follows:
Current Year
|
Previous Year
|
Current assets |
$345,510 |
|
$196,250 |
Property, plant, and equipment |
596,790 |
|
557,350 |
Intangible assets |
104,700 |
|
31,400 |
Current liabilities |
240,810 |
|
141,300 |
Long-term liabilities |
397,860 |
|
321,850 |
Common stock |
125,640 |
|
117,750 |
Retained earnings |
282,690 |
|
204,100 |
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.
Extracted text: Alvaraz Company Comparative Balance Sheet For the Years Ended December 31 Current Current Previous Previous year year year year Amount Percent Amount Percent Current assets $345,510 % $196,250 % Property, plant, and equipment 596,790 % 557,350 % Intangible assets 104,700 % 31,400 % Total assets $1,047,000 % $785,000 % Current liabilities $240,810 % $141,300 % Long-term liabilities 397,860 % 321,850 % Common stock 125,640 117,750 % Retained earnings 282,690 % 204,100 % Total liabilities and stockholders' equity $1,047,000 % $785,000 %