2014 2013
Current assets $1,050,000 $ 750,000
Property, plant, and equipment 1,960,000 2,100,000
Intangible assets 490,000 150,000
Current liabilities 630,000 420,000
Long-term liabilities 1,260,000 1,200,000
Common stock 350,000 300,000
Retained earnings 1,260,000 1,080,000
Prepare a comparative balance sheet for 2014 and 2013, 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. Round to one decimal place.
Answer:
PEACOCK COMPANY
Comparative Balance Sheet
December 31, 2014 and 2013
2014 2013
Amount Percent Amount Percent
Current assets $1,050,000 30% $ 750,000 25%
Property, plant, and equipment 1,960,000 56% 2,100,000 70%
Intangible assets 490,000 14% 150,000 5%
Total assets $3,500,000 100% $3,000,000 100%
Current liabilities $ 630,000 18% $ 420,000 14%
Long-term liabilities 1,260,000 36% 1,200,000 40%
Common stock 350,000 10% 300,000 10%
Retained earnings 1,260,000 36% 1,080,000 36%
Total liabilities and
stockholders’ equity $3,500,000 100% $3,000,000 100%