Complete a vertical analysis on the balance sheet for Jake's Janitorial Service for December 31 of last year. The company assets are cash $20,000, accounts receivable $48,000, merchandise inventory $89,000, and equipment $82,000. The liabilities are accounts payable $13,000, wages payable $16,000, and mortgage note payable $77,000. The owner's capital is $133,000.
Jake's Janitorial Service Balance Sheet
Cash: 8.4%
Accounts receivable: 20.1%
Merchandise inventory: 37.2%
Equipment: 34.3%
Total assets: 100%
Accounts payable: 12.3%
Wages payable: 15.1%
Mortgage note payable: 32.2%
Total liabilities: 44.4%
Jake's capital: 55.6%
Total liabilities and owner's equity: 100%
Jake's Janitorial Service Balance Sheet
Cash: 8.4%
Accounts receivable: 20.1%
Merchandise inventory: 37.2%
Equipment: 34.3%
Total assets: 100%
Accounts payable: 5.4%
Wages payable: 6.7%
Mortgage note payable: 72.6%
Total liabilities: 44.4%
Jake's capital: 55.6%
Total liabilities and owner's equity: 100%
Jake's Janitorial Service Balance Sheet
Cash: 8.4%
Accounts receivable: 20.1%
Merchandise inventory: 37.2%
Equipment: 34.3%
Total assets: 100%
Accounts payable: 12.3%
Wages payable: 15.1%
Mortgage note payable: 72.6%
Total liabilities: 100%
Jake's capital: 55.6%
Total liabilities and owner's equity: 100%
Jake's Janitorial Service Balance Sheet
Cash: 8.4%
Accounts receivable: 20.1%
Merchandise inventory: 37.2%
Equipment: 34.3%
Total assets: 100%
Accounts payable: 5.4%
Wages payable: 6.7%
Mortgage note payable: 32.2%
Total liabilities: 44.4%
Jake's capital: 55.6%
Total liabilities and owner's equity: 100%
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