Grogan Inc. Grogan Inc. had the following information available from its 2011 and 2012 financial statements:
Refer to the Grogan Inc. information above. Converting the 2012 column into a common-size statement would show current assets as being: (round to two decimal places)

Question

Grogan Inc. Grogan Inc. had the following information available from its 2011 and 2012 financial statements:
 Refer to the Grogan Inc. information above. Converting the 2012 column into a common-size statement would show current assets as being: (round to two decimal places)

Quizplus · Accepted Answer

Converting the 2012 financial statement into a common-size statement involves dividing each line item by total assets. Therefore, current assets as a percentage of total assets would be (($50,000 / $567,917) x 100) = 8.81 percent.