Solution-Company a reported the following balance sheet

Preparing a Common-Size Balance Sheet

Company A reported the following balance sheet data for the most recent three years:

	Year 3	Year 2	Year 1
Cash	$ 2,000	$ 2,000	$ 1,000
Accounts receivable	5,000	11,000	5,000
Inventory	10,000	16,000	10,000
Current assets	$17,000	$29,000	$16,000
Property, plant, and equipment (net)	50,000	45,000	40,000
Total assets	$67,000	$74,000	$56,000
Accounts payable	$ 9,000	$14,000	$ 7,000
Short-term debt	5,000	9,000	5,000
Current liabilities	$14,000	$23,000	$12,000
Long-term debt	20,000	25,000	20,000
Total liabilities	$34,000	$48,000	$32,000
Paid-in capital	5,000	5,000	5,000
Retained earnings	28,000	21,000	19,000
Total liabilities and equities	$67,000	$74,000	$56,000

Prepare the Asset section of a common-size balance sheet for each year.

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