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Prepare vertical analysis calculations by filling in the far right column of the following balance ...

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Prepare vertical analysis calculations by filling in the far right column of the following balance ...

Prepare vertical analysis calculations by filling in the far right column of the following balance sheet with the appropriate percentages.
   Rat Rack Corporation
   Balance Sheet
   December 31, 2014

   2014   Percent
Current assets
Cash   $35,000
Accounts receivable, net   42,000
Inventory   61,000
Prepaid expenses   7,000
Total current assets   $ 145,000

Property, plant, and equipment, net   45,700
Other assets   20,000
Total assets   $210,700
Current liabilities
Short-term borrowings   $ 29,300
Accounts payable   18,000
Total current liabilities   $ 47,300

Non-current debt   50,250
Total liabilities   $ 97,550

Shareholders' equity
Common shares   $100,000
Retained earnings   13,150
Total shareholders' equity   $113,150
Total liabilities and shareholders' equity   $210,700

Textbook

Financial Accounting, Canadian Edition

Edition: 5^th

Authors: Harrison, Horngren, Thomas, Berberich, Seguin

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Harrison Author

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Thank you, thank you, thank you!

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This site is awesome

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