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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Sanderson Company’s year-end balance sheets follow. Express the balance sheets in common-size percents. Round amounts to the nearest one-tenth of a percent. Analyze and comment on the results.
|
At December 31 |
2012 |
2011 |
2010 |
|
Assets |
 |
 |
 |
|
Cash                                  |
$ 30,800 |
$ 35,625 |
$ 36,800 |
|
Accounts receivable, net                   |
88,500 |
62,500 |
49,200 |
|
Merchandise inventory                    |
111,500 |
82,500 |
53,000 |
|
Prepaid expenses                        |
9,700 |
9,375 |
4,000 |
|
Plant assets, net                          |
277,500 |
255,000 |
229,500 |
|
Total assets                             |
$518,000 |
$445,000 |
$372,500 |
|
Liabilities and Equity |
 |
 |
 |
|
Accounts payable                        |
$128,900 |
$ 75,250 |
$ 49,250 |
|
Long-term notes payable secured by |
 |
 |
 |
|
mortgages on plant assets               |
97,500 |
102,500 |
82,500 |
|
Common stock, $10 par value              |
162,500 |
162,500 |
162,500 |
|
Retained earnings                        |
129,100 |
104,750 |
78,250 |
|
Total liabilities and equity                  |
$518,000 |
$445,000 |
$372,500 Â |
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