Determine the percentage of stockholders equity


Response to the following problem:

Balance sheet data for Santa Fe Tile Company on December 31, the end of the fiscal year, are as follows:

                                                                2007                                                      2006

Current assets                                          $260,000                                             $200,000

Property, plant, and equipment                   500,000                                                450,000

Intangible assets                                        40,000                                                  50,000

Current liabilities                                         170,000                                                150,000

Long-term liabilities                                     210,000                                                200,000

Common stock                                           50,000                                                  50,000

Retained earnings                                       370,000                                                300,000

Prepare a comparative balance sheet for 2007 and 2006, 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 two decimal places.

 

 

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Financial Accounting: Determine the percentage of stockholders equity
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