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27 June, 01:16

Given the following data for the Sheridan Company: Current liabilities $ 510 Long-term debt 340 Common stock 600 Retained earnings 1050 Total liabilities & stockholders' equity $2500 How would common stock appear on a common size balance sheet?

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  1. 27 June, 05:05
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    24%

    Explanation:

    Given that,

    Current liabilities = $ 510

    Long-term debt = $340

    Common stock = $600

    Retained earnings = $1,050

    Total liabilities & stockholders' equity = $2,500

    The common stock would appear as a percentage of the total liabilities & stockholders' equity.

    Therefore, the common stock would appear:

    = Value of Common stock : Total liabilities & stockholders' equity

    = $600 : $2,500

    = 0.24 or 24%
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