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Question
Express the following balance sheets for Safety Company in common-size percentages.| Safety Company Balance Sheets December 31, 2015 and 2014 | ||
| 2015 | 2014 | |
| Assets | ||
| Cash | $ 43,000 | $ 22,000 |
| Accounts receivable | 38,000 | 42,000 |
| Merchandise inventory | 61,000 | 52,000 |
| Prepaid insurance | 6,000 | 9,000 |
| Long-term investments | 49,000 | 20,000 |
| Plant assets (net) | 218,000 | 218,000 |
| Total assets | $415,000 | $363,000 |
| Liabilities and Equity | ||
| Current liabilities | $ 62,000 | $ 75,000 |
| Long-term liabilities | 45,000 | 36,000 |
| Common stock | 150,000 | 150,000 |
| Retained earnings | 158,000 | 102,000 |
| Total liabilities and equity | $415,000 | $363,000 |
Answer
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