(Answered) Question - the comparative balance sheet of ramos company

Accounting

Question - The comparative balance sheet of Ramos Company appears below:

RAMOS COMPANY Comparative Balance Sheet

December 31, 2009

Assets 2009 2008

Current assets $ 440 $280

Plant assets 675 520

Total assets $1,115 $800

Liabilities and stockholders' equity

Current liabilities $ 280 $120

Long-term debt 250 160

Common stock 325 320

Retained earnings 260 200

Total liabilities and stockholders' equity $1,115 $800

Instructions

(a) Using horizontal analysis, show the percentage change for each balance sheet item using 2008 as a base year.

(b) Using vertical analysis, prepare a common size comparative balance sheet.

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