Common-Size Balance Sheets Consider the following balance sheet data for Great Buy Co., Inc., an electronics and major appliance retailer (amounts in thousands): Current Year Previous Year Cash and Cash Equivalents $62,872 $10,138 Accounts Receivables 55,944 40,968 Merchandise Inventories 640,950 252,991 Other Current Assets 13,844 9,829 Total Current Assets 773,610 313,926 Property and Equipment (net) 175,724 129,442 Other Assets 18,160 10,774 Total Assets $967,494 $454,142 Current Liabilities $405,028 $189,005 Long-Term liabilities 242,022 73,854 Total Liabilities 647,050 262,859 Common Stock 5,087 4,149 Additional Paid-in-Capital 227,089 140,151 Retained Earnings 88,268 46,983 Total Stockholders' Equity 320,444 191,283 Total Liabilities and Stockholders' Equity $967,494 $454,142 Prepare common-size balance sheets for each year (use total assets as the base amount for computing percentages). Round percentages to one decimal point. Compute percentages for each "Total" below. Do not add prior percentage amounts to arrive at Totals. GREAT BUY COMPANY, INC. Common-Size Balance Sheets (Percentage of Total Assets) Current Year Common- Size Previous Year Common- Size Assets Current Assets Cash and Cash Equivalents $62,872 Answer $10,138 Answer Accounts Receivables 55,944 Answer 40,968 Answer Merchandise Inventories 640,950 Answer 252,991 Answer Other Current Assets 13,844 Answer 9,829 Answer Total Current Assets 773,610 Answer 313,926 Answer Property and Equipment (net) 175,724 Answer 129,442 Answer Other Assets 18,160 Answer 10,774 Answer Total Assets $967,494 Answer $454,142 Answer Liabilities Current Liabilities $405,028 Answer $189,005 Answer Long-Term liabilities 242,022 Answer 73,854 Answer Total Liabilities 647,050 Answer 262,859 Answer Stockholders' Equity Common Stock 5,087 Answer 4,149 Answer Additional Paid-in-Capital 227,089 Answer 140,151 Answer Retained Earnings 88,268 Answer 46,983 Answer Total Stockholders’ Equity 320,444 Answer 191,283 Answer Total Liabilities and Stockholders’ Equity $967,494 Answer $454,142 Answer

Common-Size Balance Sheets Consider the following balance sheet data for Great Buy Co., Inc., an electronics and major appliance retailer (amounts in thousands): Current Year Previous Year Cash and Cash Equivalents $62,872 $10,138 Accounts Receivables 55,944 40,968 Merchandise Inventories 640,950 252,991 Other Current Assets 13,844 9,829 Total Current Assets 773,610 313,926 Property and Equipment (net) 175,724 129,442 Other Assets 18,160 10,774 Total Assets $967,494 $454,142 Current Liabilities $405,028 $189,005 Long-Term liabilities 242,022 73,854 Total Liabilities 647,050 262,859 Common Stock 5,087 4,149 Additional Paid-in-Capital 227,089 140,151 Retained Earnings 88,268 46,983 Total Stockholders' Equity 320,444 191,283 Total Liabilities and Stockholders' Equity $967,494 $454,142 Prepare common-size balance sheets for each year (use total assets as the base amount for computing percentages). Round percentages to one decimal point. Compute percentages for each "Total" below. Do not add prior percentage amounts to arrive at Totals. GREAT BUY COMPANY, INC. Common-Size Balance Sheets (Percentage of Total Assets) Current Year Common- Size Previous Year Common- Size Assets Current Assets Cash and Cash Equivalents $62,872 Answer $10,138 Answer Accounts Receivables 55,944 Answer 40,968 Answer Merchandise Inventories 640,950 Answer 252,991 Answer Other Current Assets 13,844 Answer 9,829 Answer Total Current Assets 773,610 Answer 313,926 Answer Property and Equipment (net) 175,724 Answer 129,442 Answer Other Assets 18,160 Answer 10,774 Answer Total Assets $967,494 Answer $454,142 Answer Liabilities Current Liabilities $405,028 Answer $189,005 Answer Long-Term liabilities 242,022 Answer 73,854 Answer Total Liabilities 647,050 Answer 262,859 Answer Stockholders' Equity Common Stock 5,087 Answer 4,149 Answer Additional Paid-in-Capital 227,089 Answer 140,151 Answer Retained Earnings 88,268 Answer 46,983 Answer Total Stockholders’ Equity 320,444 Answer 191,283 Answer Total Liabilities and Stockholders’ Equity $967,494 Answer $454,142 Answer

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 1MAD

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Common-Size Balance Sheets
Consider the following balance sheet data for Great Buy Co., Inc., an electronics and major appliance retailer (amounts in thousands):

	Current Year	Previous Year
Cash and Cash Equivalents	$62,872	$10,138
Accounts Receivables	55,944	40,968
Merchandise Inventories	640,950	252,991
Other Current Assets	13,844	9,829
Total Current Assets	773,610	313,926
Property and Equipment (net)	175,724	129,442
Other Assets	18,160	10,774
Total Assets	$967,494	$454,142
Current Liabilities	$405,028	$189,005
Long-Term liabilities	242,022	73,854
Total Liabilities	647,050	262,859
Common Stock	5,087	4,149
Additional Paid-in-Capital	227,089	140,151
Retained Earnings	88,268	46,983
Total Stockholders' Equity	320,444	191,283
Total Liabilities and Stockholders' Equity	$967,494	$454,142

Prepare common-size balance sheets for each year (use total assets as the base amount for computing percentages). Round percentages to one decimal point. Compute percentages for each "Total" below. Do not add prior percentage amounts to arrive at Totals.

GREAT BUY COMPANY, INC. Common-Size Balance Sheets (Percentage of Total Assets)
	Current Year	Common- Size	Previous Year	Common- Size
Assets
Current Assets
Cash and Cash Equivalents	$62,872	Answer	$10,138	Answer
Accounts Receivables	55,944	Answer	40,968	Answer
Merchandise Inventories	640,950	Answer	252,991	Answer
Other Current Assets	13,844	Answer	9,829	Answer
Total Current Assets	773,610	Answer	313,926	Answer
Property and Equipment (net)	175,724	Answer	129,442	Answer
Other Assets	18,160	Answer	10,774	Answer
Total Assets	$967,494	Answer	$454,142	Answer
Liabilities
Current Liabilities	$405,028	Answer	$189,005	Answer
Long-Term liabilities	242,022	Answer	73,854	Answer
Total Liabilities	647,050	Answer	262,859	Answer
Stockholders' Equity
Common Stock	5,087	Answer	4,149	Answer
Additional Paid-in-Capital	227,089	Answer	140,151	Answer
Retained Earnings	88,268	Answer	46,983	Answer
Total Stockholders’ Equity	320,444	Answer	191,283	Answer
Total Liabilities and Stockholders’ Equity	$967,494	Answer	$454,142	Answer

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