Problem: Carl Industries has condensed balance sheets as shown: Balance Sheet Assets 2011 2010 2009 Current assets $65,000 $46,000 $80,000 Plant & equipment, net 600,000 420,000 410,000 Intangible assets, net 15,000 36,500 50,000 Total assets $680,000 $503,000 $540,000 Liabilities & Stockholders' Equity Current liabilities $70,000 $25,000 $33,500 Long-term liabilities 420,000 290,000 400,000 Stockholders' equity 190,000 188,000 106,500 Total liabilities & equity $680,000 $503,000 $540,000 Refer to the information for Carl Industries. In a common size balance sheet for 2010, plant and equipment (net) is expressed as: