Bethesda Mining Company reports the following balance sheet information for 2009 and 2010.

Bethesda Mining Company reports the following balance sheet information for 2009 and 2010.

 

Required:

Prepare the 2009 and 2010 common-size balance sheets for Bethesda Mining. (Do not include the percent signs (%). Round your answers to 2 decimal places (e.g., 32.16).)

 

BETHESDA MINING COMPANY Balance Sheets as of December 31, 2009 and 2010
	2009					2010						2009					2010
Assets											Liabilities and Owners’  Equity
Current assets											Current liabilities
Cash	$	45,262			%	$	57,602			%	Accounts payable	$	190,922			%	$	198,611			%
Accounts receivable		61,281			%		81,639			%	Notes payable		86,020			%		137,588			%
Inventory		126,088			%		192,061			%
											Total	$	276,942			%	$	336,199			%
Total	$	232,631			%	$	331,302			%
											Long-term debt		239,000			%		175,750			%
											Owners’ equity
											Common stock and paid-in surplus	$	216,000			%	$	216,000			%
											Accumulated retained earnings		158,636			%		192,931			%
Fixed assets
Net plant and equipment	$	657,947			%	$	589,578			%	Total	$	374,636			%	$	408,931			%
Total assets	$	890,578			%	$	920,880			%	Total liabilities and owners’ equity	$	890,578			%	$	920,880			%

Explanation:

To calculate the common-size balance sheet, we divide each account by total assets. For example, the common-size cash percentage for 2009 is:

 

Cash percentage = Cash / Total assets

Cash percentage = $45,262 / $890,578

Cash percentage = 0.0508 or 5.08%

This procedure is repeated for each account as shown above.