Express the balance sheets in common-size percents

Reference no: EM132802156

Question - Mixon Company's year-end balance sheets show the following:

	2006	2005	2004
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
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

Required - Express the balance sheets in common-size percents. Round to the nearest one-tenth of a percent. Comment on your results.

Reference no: EM132802156

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