Reference no: EM132992378

Balance sheet data for Otter Creek Company on December 31, the end of the fiscal year, are shown below.

                                                                               20Y2                    20Y1

Current assets                                          $700,000            $504,000

Property, plant, and equipment                      945,000               770,000

Intangible assets                                          105,000             126,000

Current liabilities                                           280,000              294,000

Long-term liabilities                                        595,000           560,000

Common stock                                              140,000            140,000

Retained earnings                                          735,000                 406,000

Problem 1: Prepare a comparative balance sheet for 20Y2 and 20Y1, 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.