1. Prepare a vertical analysis of the balance sheet data for 2022 and 2021. Express each amount as a percentage of total assets. (Amounts to be deducted should be indicated by a minus sign. Round your answers to 1 decimal place.) Assets Cash Accounts receivable Inventory Buildings Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Contingent liability Common stock Retained earnings Total liabilities and stockholders' equity FEDERER SPORTS APPAREL Balance Sheet December 31 Amount 2022 $ 2,655,000 1,320,000 2,775,000 10,050,000 (1,800,000) $ 15,000,000 $ 1,725,000 1,245,000 5,475,000 6,555,000 $ 15,000,000 Amount $ 2021 900,000 1,200,000 1,250,000 10,050,000 (900,000) $ 12,500,000 $ 1,562,500 5,475,000 5,462,500 $ 12,500,000

1. Prepare a vertical analysis of the balance sheet data for 2022 and 2021. Express each amount as a percentage of total assets. (Amounts to be deducted should be indicated by a minus sign. Round your answers to 1 decimal place.) Assets Cash Accounts receivable Inventory Buildings Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Contingent liability Common stock Retained earnings Total liabilities and stockholders' equity FEDERER SPORTS APPAREL Balance Sheet December 31 Amount 2022 $ 2,655,000 1,320,000 2,775,000 10,050,000 (1,800,000) $ 15,000,000 $ 1,725,000 1,245,000 5,475,000 6,555,000 $ 15,000,000 Amount $ 2021 900,000 1,200,000 1,250,000 10,050,000 (900,000) $ 12,500,000 $ 1,562,500 5,475,000 5,462,500 $ 12,500,000

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Description: S1. Prepare a vertical analysis of the balance sheet data for 2022 and 2021. Express each amount as a percentage of totalassets. (Amounts to be deducted should be indicated by a minus sign. Round your answers to 1 decimal place.)AssetsCashAccounts r

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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