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Empire Moving Company reported the following amounts on its balance sheet as of December 31, 2016 ...

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Empire Moving Company reported the following amounts on its balance sheet as of December 31, 2016 ...

Empire Moving Company reported the following amounts on its balance sheet as of December 31, 2016 and December 31, 2017:

20172016
Cash and Receivables$105,000$165,000
Merchandise Inventory205,000230,000
Property, Plant and Equipment, net810,000710,000
Total Assets$1,120,000$1,105,000
Total Liabilities$465,000$455,000

For the vertical analysis, what is the percentage of total liabilities for December 31, 2016? (Round your answer to two decimal places.)
A) 100.00%
B) 41.52%
C) 36.26%
D) 41.18%

Textbook

Horngren's Accounting

Edition: 11^th

Authors: Miller-Nobles, Mattison, Matsumura

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More solutions for this book are available here

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damnitdiane Author

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Brilliant ツ

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I appreciate what you did here, answered it right Smiling Face with Open Mouth

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This helped my grade so much Perfect

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