Comparative balance sheets are available for Floatlin Group:

Floatlin Group
Comparative Balance Sheets
December 31, 2X13 and 2X12
2X13 2X12 2X13 2X12
Current Assets: Current Liabilities:
Cash $ 20 $ 15 Accounts Payable $ 24 $ 20
Accounts Receivable 45 37 Taxes Payable 11 15
Inventory 60 70 Note Payable 7 18
Total Current Assets $125 $122 Total Current Liab. $ 42 $ 53
Long-Term Assets: Long-Term Liabilities 80 30
Equipment $290 $200 Total Liabilities $122 $ 83
Less: Accum. Depr. (160 ) (140 ) Stockholders' Equity:
Total Long-Term Assets $130 $ 60 Common Stock $ 40 $ 40
Retained Earnings 93 59
Total Stockholders' Equity $133 $ 99
Total Liab. &
Total Assets $255 $182 Stockholders' Equity $255 $182

Prepare a common-size balance sheet for Floatlin Group at December 31, 2X13.

Floatlin Group
Balance Sheet
December 31, 2X13

2X13 2X13
Current Assets: Current Liabilities:
Cash $ 20 7.8% Accounts payable 24 9.4%
Accounts Receivable 45 17.6% Taxes Payable 11 4.3%
Inventory 60 23.5% Note Payable 7 2.7%
Total Current Assets $125 49.0% Total Current Liab. $ 42 16.5%
Long-Term Assets: Long-Term Liabilities 80 31.4%
Equipment $290 113.7% Total Liabilities $122 47.8%
Less: Accum. Depr. (160 ) (62.7%) Stockholders' Equity:
Total Long-Term Assets $130 51.0% Common Stock $ 40 15.7%
Retained Earnings 93 36.5%
Total Stockholders' Eq. $133 52.2%
Total Liabilities &
Total Assets $255 100.0% Stockholders' Equity $255 100.0%