Accounting Connection- Vision, Inc.'s comparative balance sheets follow. Prepare common-size statements, and comment on the changes from 2013 to 2014. (Round to one decimal place.)
|
Vision, Inc.
Comparative Balance Sheets December 31, 2014 and 2013
|
| Assets |
2014 |
2013 |
|
Current assets
|
$ 48,000
|
$ 40,000
|
|
Property, plant, and equipment (net)
|
260,000
|
200,000
|
|
Total assets
|
$308,000
|
$240,000
|
|
Liabilities and Stockholders' equity
|
|
Current liabilities
|
$ 36,000
|
$ 44,000
|
|
Long-term liabilities
|
180,000
|
120,000
|
|
Stockholders' equity
|
92,000
|
76,000
|
|
Total liabilities and stockholders' equity
|
$308,000
|
$240,000
|