The Comparative Balance Sheet for Silverlight Co

question 178

Essay

The comparative balance sheet for Silverlight Co. is shown below. Express the balance sheet in common-size percentages.
$\begin{array}{c}\text {Silverlight Company}\\\text {Comparative Balance Sheets (in \$000)}\\\text {December \( 31,2016-2018 \)}\\\begin{array}{|l|}\hline \\\hline \text {Cash}\\\hline \text {Accounts receivable}\\\hline \text {Merchandise inventory}\\\hline \text {Plant assets (net)}\\\hline \text {Total assets}\\\hline\\\hline \text {Accounts payable}\\\hline \text {Bonds payable}\\\hline \text {Common stock}\\\hline\\ \text {Retained earnings}\\\hline \text {Total liabilities and equity}\\\hline \end{array}\begin{array}{r|}\hline \underline{2018}\\\hline\$49.6 \\\hline 74.4 \\\hline 148.8 \\\hline \$ 647.7 \\\hline \$ 620.0 \\\hline\\\hline \$ 117.8 \\\hline 130.2 \\\hline 266.6 \\\hline\\\underline{ 105.4 }\\\hline \underline{\$ 620.0}\\\hline \end{array}\begin{array}{r|}\hline \underline{2017 }\\\hline \$ \quad 34.2 \\\hline 85.5 \\\hline 125.4 \\\hline 324.9 \\\hline \$ 570.0 \\\hline\\\hline \$ 51.3 \\\hline 159.6 \\\hline 279.3 \\\hline\\\underline{79.8}\\\hline\underline{\$ 570.0}\\\hline \end{array}\begin{array}{r|}\hline \underline{2016} \\\hline \$ \quad 35.7 \\\hline 76.5 \\\hline 91 . 8\\\hline 306 . 0\\\hline \$ 510.0 \\\hline\\\hline \$ 76.5 \\\hline 107 . 1\\\hline 265.7\\\hline\\\underline{61.2}\\\hline\underline{\$ 5100}\\\hline \end{array}\end{array}$

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Definitions:

Removal

The process of moving or eliminating something from a certain place or context.

User Cost

The cost of using a good or service, considering both the expense of use and the opportunity cost of not using an alternative.

Extraction Cost

The expenses associated with removing natural resources from the earth, such as mining, drilling, or harvesting.

Gold Bars

Solid bars of gold, typically standardized in weight, that are bought, sold, and stored as investment and reserve assets.