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Comparative balance sheet data for the More Company at the end of fiscal year 2020...

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Accounting

Comparative balance sheet data for the More Company at the end of fiscal year 2020 and 2021 follows: (7 Marks)

More Company
Balance Sheet
June, 2021 and 2020

Assets

2021

2020

Cash

$71,000

$68,000

Long-term investments

67,000

43,000

Land, buildings, and equipment (net)

95,000

162,000

Intangible assets

9,400

11,300

Other assets

5,000

8,000

Total assets

$347,400

$292,300

Liabilities

Accounts payable

$37,100

$ 34,000

Long-term liabilities8% bonds

23,500

17,900

Total liabilities

$60,600

$ 51,900

Stockholders Equity

6% preferred stock

$7,500

$ 7,500

Common stock

50,000

50,000

Additional paid-in capital

46,000

46,000

Retained earnings

183,300

136,900

Total stockholders equity

$286,800

$240,400

Total liabilities and stockholders equity

$347,400

$292,300

Prepare a common-size balance sheet for the two-year period using total assets to standardize.

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