Vertical Analysis of Balance Sheets Consolidated balance sheets for Winged Manufacturing follow. Winged Manufacturing Consolidated Balance Sheets (dollars in thousands) December 31 ASSETS 2023 2023 Current assets: Cash and cash equivalents $1,228,488 $676,413 Short-term investments 54,368 215,890 Accounts receivable, net of allowance for doubtful accounts of $90,992 ($83,776 in 2022) 1,581,347 1,381,946 Inventories 1,088,434 1,541,638 Deferred tax assets 293,048 268,085 Other current assets 255,767 289,383 Total current assets $4,501,452 $4,373,355 Property, plant, and equipment: Land and buildings $484,592 $404,688 Machinery and equipment 587,728 578,272 Office furniture and equipment 158,160 167,905 Leasehold improvements 236,708 261,792 $1,467,188 $1,412,657 Accumulated depreciation and amortization (785,088) (753,111) Net property, plant, and equipment $682,100 $659,546 Other assets 159,194 173,511 Total assets $5,342,746 $5,206,412 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Short-term borrowings $292,200 $823,182 Accounts payable 906,717 742,622 Accrued compensation and employee benefits 136,895 144,779 Accrued marketing and distribution 178,294 174,547 Accrued restructuring costs 58,238 307,932 Other current liabilities 396,961 315,023 Total current liabilities $1,969,305 $2,508,085 Long-term debt 304,472 7,117 Deferred tax liabilities 670,668 624,832 Total liabilities $2,944,445 $3,140,034 Stockholders’ equity: Common stock, no par value: 320,000,000 shares authorized; 119,542,527 shares issued and outstanding in 2023 (116,147,035 shares in 2022) $297,929 $208,613 Retained earnings 2,111,206 1,877,600 Accumulated translation adjustment (10,834) (19,835) Total stockholders’ equity $2,398,301 $2,066,378 Total liabilities and stockholders’ equity $5,342,746 $5,206,412 Required: Question Content Area 1. Prepare common size balance sheets for vertical analysis. Enter your answers in percentage terms, rounded to two decimal places, and do not include the "%" sign with your answer. For example, "100.00" or "28.72". For those boxes in which underlying dollar amount is shown as negative, use a minus sign. You do not need to include the actual dollar amounts shown above. December 31, 2023 December 31, 2022 Current assets: Cash and cash equivalents Short-term investments Accounts receivable, net of allowance for doubtful accounts of $90,992 ($83,776 in 2022) Inventories Deferred tax assets Other current assets Total current assets Property, plant, and equipment: Land and buildings Machinery and equipment Office furniture and equipment Leasehold improvements Accumulated depreciation and amortization Net property, plant, and equipment Other assets Total assets Current liabilities: Short-term borrowing Accounts payable Accrued compensation and employee benefits Accrued marketing and distribution Accrued restructuring costs Other current liabilities Total current liabilities Long-term debt Deferred tax liabilities Total liabilities Stockholders' equity: Common stock, no par value: 320,000,000 shares authorized; 119,542,527 shares issued and outstanding in 2023 (116,147,035 shares in 2022) Retained earnings Accumulated translation adjustment Total stockholders' equity \ Total liabilities and stockholders' equity

Vertical Analysis of Balance Sheets Consolidated balance sheets for Winged Manufacturing follow. Winged Manufacturing Consolidated Balance Sheets (dollars in thousands) December 31 ASSETS 2023 2023 Current assets: Cash and cash equivalents $1,228,488 $676,413 Short-term investments 54,368 215,890 Accounts receivable, net of allowance for doubtful accounts of $90,992 ($83,776 in 2022) 1,581,347 1,381,946 Inventories 1,088,434 1,541,638 Deferred tax assets 293,048 268,085 Other current assets 255,767 289,383 Total current assets $4,501,452 $4,373,355 Property, plant, and equipment: Land and buildings $484,592 $404,688 Machinery and equipment 587,728 578,272 Office furniture and equipment 158,160 167,905 Leasehold improvements 236,708 261,792 $1,467,188 $1,412,657 Accumulated depreciation and amortization (785,088) (753,111) Net property, plant, and equipment $682,100 $659,546 Other assets 159,194 173,511 Total assets $5,342,746 $5,206,412 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Short-term borrowings $292,200 $823,182 Accounts payable 906,717 742,622 Accrued compensation and employee benefits 136,895 144,779 Accrued marketing and distribution 178,294 174,547 Accrued restructuring costs 58,238 307,932 Other current liabilities 396,961 315,023 Total current liabilities $1,969,305 $2,508,085 Long-term debt 304,472 7,117 Deferred tax liabilities 670,668 624,832 Total liabilities $2,944,445 $3,140,034 Stockholders’ equity: Common stock, no par value: 320,000,000 shares authorized; 119,542,527 shares issued and outstanding in 2023 (116,147,035 shares in 2022) $297,929 $208,613 Retained earnings 2,111,206 1,877,600 Accumulated translation adjustment (10,834) (19,835) Total stockholders’ equity $2,398,301 $2,066,378 Total liabilities and stockholders’ equity $5,342,746 $5,206,412 Required: Question Content Area 1. Prepare common size balance sheets for vertical analysis. Enter your answers in percentage terms, rounded to two decimal places, and do not include the "%" sign with your answer. For example, "100.00" or "28.72". For those boxes in which underlying dollar amount is shown as negative, use a minus sign. You do not need to include the actual dollar amounts shown above. December 31, 2023 December 31, 2022 Current assets: Cash and cash equivalents Short-term investments Accounts receivable, net of allowance for doubtful accounts of $90,992 ($83,776 in 2022) Inventories Deferred tax assets Other current assets Total current assets Property, plant, and equipment: Land and buildings Machinery and equipment Office furniture and equipment Leasehold improvements Accumulated depreciation and amortization Net property, plant, and equipment Other assets Total assets Current liabilities: Short-term borrowing Accounts payable Accrued compensation and employee benefits Accrued marketing and distribution Accrued restructuring costs Other current liabilities Total current liabilities Long-term debt Deferred tax liabilities Total liabilities Stockholders' equity: Common stock, no par value: 320,000,000 shares authorized; 119,542,527 shares issued and outstanding in 2023 (116,147,035 shares in 2022) Retained earnings Accumulated translation adjustment Total stockholders' equity \ Total liabilities and stockholders' equity

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 4PB

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Question Content Area

1. Prepare common size balance sheets for vertical analysis. Enter your answers in percentage terms, rounded to two decimal places, and do not include the "%" sign with your answer. For example, "100.00" or "28.72". For those boxes in which underlying dollar amount is shown as negative, use a minus sign. You do not need to include the actual dollar amounts shown above.

December 31, 2023	December 31, 2022
Current assets:
Cash and cash equivalents
Short-term investments
Accounts receivable, net of allowance for doubtful accounts of $90,992 ($83,776 in 2022)
Inventories
Deferred tax assets
Other current assets
Total current assets
Property, plant, and equipment:
Land and buildings
Machinery and equipment
Office furniture and equipment
Leasehold improvements

Accumulated depreciation and amortization
Net property, plant, and equipment
Other assets
Total assets
Current liabilities:
Short-term borrowing
Accounts payable
Accrued compensation and employee benefits
Accrued marketing and distribution
Accrued restructuring costs
Other current liabilities
Total current liabilities
Long-term debt
Deferred tax liabilities
Total liabilities
Stockholders' equity:
Common stock, no par value: 320,000,000 shares authorized; 119,542,527 shares issued and outstanding in 2023 (116,147,035 shares in 2022)
Retained earnings
Accumulated translation adjustment
Total stockholders' equity		\
Total liabilities and stockholders' equity

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Winged Manufacturing Consolidated Balance Sheets (dollars in thousands)
	December 31
ASSETS	2023	2023
Current assets:
Cash and cash equivalents	$1,228,488		$676,413
Short-term investments	54,368		215,890
Accounts receivable, net of allowance for doubtful accounts of $90,992 ($83,776 in 2022)	1,581,347		1,381,946
Inventories	1,088,434		1,541,638
Deferred tax assets	293,048		268,085
Other current assets	255,767		289,383
Total current assets	$4,501,452		$4,373,355
Property, plant, and equipment:
Land and buildings	$484,592		$404,688
Machinery and equipment	587,728		578,272
Office furniture and equipment	158,160		167,905
Leasehold improvements	236,708		261,792
	$1,467,188		$1,412,657
Accumulated depreciation and amortization	(785,088)		(753,111)
Net property, plant, and equipment	$682,100		$659,546
Other assets	159,194		173,511
Total assets	$5,342,746		$5,206,412
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Short-term borrowings	$292,200		$823,182
Accounts payable	906,717		742,622
Accrued compensation and employee benefits	136,895		144,779
Accrued marketing and distribution	178,294		174,547
Accrued restructuring costs	58,238		307,932
Other current liabilities	396,961		315,023
Total current liabilities	$1,969,305		$2,508,085
Long-term debt	304,472		7,117
Deferred tax liabilities	670,668		624,832
Total liabilities	$2,944,445		$3,140,034
Stockholders’ equity:
Common stock, no par value: 320,000,000 shares authorized; 119,542,527 shares issued and outstanding in 2023 (116,147,035 shares in 2022)	$297,929		$208,613
Retained earnings	2,111,206		1,877,600
Accumulated translation adjustment	(10,834)		(19,835)
Total stockholders’ equity	$2,398,301		$2,066,378
Total liabilities and stockholders’ equity	$5,342,746		$5,206,412