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Home Q & A Board Other Fields Homework Help Business Management
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Kiuli Mulitalo Kiuli Mulitalo
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3 years ago
Allstate Moving Company reported the following amounts on its balance sheet as of December​ 31, 2019 and December​ 31, 2018:
2019
2018
Cash and Receivables
$ 95 comma 000
$ 85 comma 000
Merchandise Inventory
235 comma 000
150 comma 000
​Property, Plant and​ Equipment, net
780 comma 000
730 comma 000
Total Assets
$ 1 comma 110 comma 000
$ 965 comma 000
Total Liabilities
$ 435 comma 000
$ 465 comma 000
For the vertical​ analysis, what is the percentage of current assets as of December​ 31, 2019?​ (Round your answer to two decimal​ places.)
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#1
Staff Member
3 years ago
Explanation:Given that Total Liabilities = $435,000 Total Assets = $1,110,000

The computation of percentage of current assets is shown below:-
Percentage of Total Liabilities = Total Liabilities ÷ Total Assets × 100= $435,000 ÷ $1,110,000 × 100= 0.392 × 100= 39.19%

Therefore for computing the percentage of current assets we simply applied the above formula.
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