Balance Sheet Prepare a vertical analysis of the balance sheets for Year 4 and Year 3. Note: Percentages may not add exactly due to rounding. Round your answers to 2 decimal places. (l.e., .2345 should be entered as 23.45). Assets Current assels Cash Income Statement Marketable securities Accounts receivable (net) Inventories Prepaid items Total current assets Investments Plant (net) Land Total long-term assets Total assets Liabilities and stockholders' equity Liabilities Current liabilities Notes payable Accounts payable Salaries payable Total current liabilities Noncurrent liabilities Bonds payable Other FANNING COMPANY Vertical Analysis of Balance Sheets Year 4 Total noncurrent liabilities Total labilties Stockholders' equity Preferred stock (par value $10, 4% cumulative, nonparticipating 6.600 shares authorized and issued) Common stock (no par; 50,000 shares authorized 10,000 shares issued) Retained earings Total stockholders' equity Tutal abilities and stockholders' equity Amount $ 17,400 21,000 54,600 135,100 26,600 254,700 28,700 271,400 Percentage of Total 30,700 330,800 $ 585,500 " $ 16,400 112,300 19,400 148,100 98,800 31,600 130,400 278,500 66.000 66,000 175.000 307,000 $ 585.500 Amount Year 3 % $ 12,300 6,200 47,800 144,000 11,500 221,800 20,300 256,700 24,400 301,400 $ 523,200 $ 5,600 98,400 13,900 117,900 98.800 27,000 125,800 243.700 Percentage of Total 66,000 66,000 147.500 279.500 S $ 523.200 Income Statement > %
Balance Sheet Prepare a vertical analysis of the balance sheets for Year 4 and Year 3. Note: Percentages may not add exactly due to rounding. Round your answers to 2 decimal places. (l.e., .2345 should be entered as 23.45). Assets Current assels Cash Income Statement Marketable securities Accounts receivable (net) Inventories Prepaid items Total current assets Investments Plant (net) Land Total long-term assets Total assets Liabilities and stockholders' equity Liabilities Current liabilities Notes payable Accounts payable Salaries payable Total current liabilities Noncurrent liabilities Bonds payable Other FANNING COMPANY Vertical Analysis of Balance Sheets Year 4 Total noncurrent liabilities Total labilties Stockholders' equity Preferred stock (par value $10, 4% cumulative, nonparticipating 6.600 shares authorized and issued) Common stock (no par; 50,000 shares authorized 10,000 shares issued) Retained earings Total stockholders' equity Tutal abilities and stockholders' equity Amount $ 17,400 21,000 54,600 135,100 26,600 254,700 28,700 271,400 Percentage of Total 30,700 330,800 $ 585,500 " $ 16,400 112,300 19,400 148,100 98,800 31,600 130,400 278,500 66.000 66,000 175.000 307,000 $ 585.500 Amount Year 3 % $ 12,300 6,200 47,800 144,000 11,500 221,800 20,300 256,700 24,400 301,400 $ 523,200 $ 5,600 98,400 13,900 117,900 98.800 27,000 125,800 243.700 Percentage of Total 66,000 66,000 147.500 279.500 S $ 523.200 Income Statement > %
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
Chapter4: Balance Sheet: Presenting And Analyzing Resources And Financing
Section: Chapter Questions
Problem 14E
Related questions
Question
![Balance Sheet
Prepare a vertical analysis of the balance sheets for Year 4 and Year 3.
Note: Percentages may not add exactly due to rounding. Round your answers to 2 decimal places. (L.e., .2345 should be entered
as 23.45).
Assats
Current assets
Cash
Income
Statement
Marketable securities
Accounts receivable (net)
Inventories
Prepaid Items
Total current assets
Investments
Plant (net)
Land
Total long-term assets
Total assets
Liabilities and stockholders' equity
Liabilities
Current liabilities
Notes payable
Accounts payable
Salaries payable
Total current liabilities
Noncurrent liabilities
Bonds payable
Other
FANNING COMPANY
Vertical Analysis of Balance Sheeta
Year 4
Total noncurrent liabilales
Total abilities
Stockholders' equity
Preferred stock (par value $10, 4% cumulative,
nonparticipating: 6,600 shares authorized and issued)
Common stock (no par; 50,000 shares authorized;
10,000 shares issued)
Retained earnings
Total stockholders' equity
Total liabilities and stockholders' equity
Amount
$ 17,400
21,000
54,600
135,100
26,600
254,700
28,700
271,400
30,700
330,800
$ 585,500
Percentage of
Total
$ 16,400
112.300
19,400
148,100
98,800
31,600
130,400
278.500 rGHOUSI
66.000
66,000
175.000
307,000
$ 585,500
Amount
Year 3
$ 12,300
6,200
47,800
144,000
11,500
221,800
20,300
256,700
24,400
301,400
$ 523,200
5,600
98,400
13,900
117,900
CHIESLERS
98,800
27,000
125,800
243,700
66,000
Percentage of
Total
66,000
147,500
279,500
5 $ 523,200
Income Statement >
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Transcribed Image Text:Balance Sheet
Prepare a vertical analysis of the balance sheets for Year 4 and Year 3.
Note: Percentages may not add exactly due to rounding. Round your answers to 2 decimal places. (L.e., .2345 should be entered
as 23.45).
Assats
Current assets
Cash
Income
Statement
Marketable securities
Accounts receivable (net)
Inventories
Prepaid Items
Total current assets
Investments
Plant (net)
Land
Total long-term assets
Total assets
Liabilities and stockholders' equity
Liabilities
Current liabilities
Notes payable
Accounts payable
Salaries payable
Total current liabilities
Noncurrent liabilities
Bonds payable
Other
FANNING COMPANY
Vertical Analysis of Balance Sheeta
Year 4
Total noncurrent liabilales
Total abilities
Stockholders' equity
Preferred stock (par value $10, 4% cumulative,
nonparticipating: 6,600 shares authorized and issued)
Common stock (no par; 50,000 shares authorized;
10,000 shares issued)
Retained earnings
Total stockholders' equity
Total liabilities and stockholders' equity
Amount
$ 17,400
21,000
54,600
135,100
26,600
254,700
28,700
271,400
30,700
330,800
$ 585,500
Percentage of
Total
$ 16,400
112.300
19,400
148,100
98,800
31,600
130,400
278.500 rGHOUSI
66.000
66,000
175.000
307,000
$ 585,500
Amount
Year 3
$ 12,300
6,200
47,800
144,000
11,500
221,800
20,300
256,700
24,400
301,400
$ 523,200
5,600
98,400
13,900
117,900
CHIESLERS
98,800
27,000
125,800
243,700
66,000
Percentage of
Total
66,000
147,500
279,500
5 $ 523,200
Income Statement >
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Follow-up Question
My homework assignment check feature say that the following part below is incorrect please.
![Liabilmes and stockholders equity
Liabilities
Current liabilities
Notes payable
Accounts payable
Salaries payable
Total current liabilities
Noncurrent liabilities
Bonds payable
Other
Total noncurrent liabilities
Total liabilities
Stockholders' equity
Preferred stock (par value $10, 4% cumulative,
nonparticipating; 6,600 shares authorized and issued)
Common stock (no par, 50,000 shares authorized;
10,000 shares issued)
Retained earnings
Total stockholders' equity
Total liabilities and stockholders' equity
$ 16,400
112,300
19,400
148,100
98,800
31,600
130,400
278,500
66,000
66,000
175,000
307.000
$
585.500
5.74 X
39.33 X
6.80 X
51.87 X
34.61
11.07 X
45.67 X
97.55
23.12
23.12 X
61.30
107.53 X
205.08 %
$ 5,600
98,400
13,900
117,900
< Prev
98,800
27,000
125,800
243,700
66,000
66,000
147,500
279,500
$
523,200
Income Statement >
2 of 15
1.07
18.81
2.66
22.53
18.88
5.16
24.04
46.58
12.61
12.61
28.19
53.42
100.00
%
Next >
ARRERESCASSER](https://content.bartleby.com/qna-images/question/84750ce8-9775-44b3-8949-71118a85823f/014894c9-f84c-4589-8c93-294c92eaf8a9/b7fcxyp_thumbnail.jpeg)
Transcribed Image Text:Liabilmes and stockholders equity
Liabilities
Current liabilities
Notes payable
Accounts payable
Salaries payable
Total current liabilities
Noncurrent liabilities
Bonds payable
Other
Total noncurrent liabilities
Total liabilities
Stockholders' equity
Preferred stock (par value $10, 4% cumulative,
nonparticipating; 6,600 shares authorized and issued)
Common stock (no par, 50,000 shares authorized;
10,000 shares issued)
Retained earnings
Total stockholders' equity
Total liabilities and stockholders' equity
$ 16,400
112,300
19,400
148,100
98,800
31,600
130,400
278,500
66,000
66,000
175,000
307.000
$
585.500
5.74 X
39.33 X
6.80 X
51.87 X
34.61
11.07 X
45.67 X
97.55
23.12
23.12 X
61.30
107.53 X
205.08 %
$ 5,600
98,400
13,900
117,900
< Prev
98,800
27,000
125,800
243,700
66,000
66,000
147,500
279,500
$
523,200
Income Statement >
2 of 15
1.07
18.81
2.66
22.53
18.88
5.16
24.04
46.58
12.61
12.61
28.19
53.42
100.00
%
Next >
ARRERESCASSER
Solution
Follow-up Question
My homework assignment check feature say that the following part below is incorrect please.
![Liabilmes and stockholders equity
Liabilities
Current liabilities
Notes payable
Accounts payable
Salaries payable
Total current liabilities
Noncurrent liabilities
Bonds payable
Other
Total noncurrent liabilities
Total liabilities
Stockholders' equity
Preferred stock (par value $10, 4% cumulative,
nonparticipating; 6,600 shares authorized and issued)
Common stock (no par; 50,000 shares authorized;
10,000 shares issued)
Retained earnings
Total stockholders' equity
Total liabilities and stockholders' equity
$ 16,400
112,300
19,400
148,100
98,800
31,600
130,400
278,500
66,000
66,000
175,000
307.000
$
585.500
5.74 X
39.33 X
6.80 X
51.87 X
34.61
11.07 X
45.67 X
97.55
23.12
23.12 X
61.30
107.53 X
205.08 %
$ 5,600
98,400
13,900
117,900
< Prev
98,800
27,000
125,800
243,700
66,000
66,000
147,500
279,500
$
523,200
Income Statement >
2 of 15
1.07
18.81
2.66
22.53
18.88
5.16
24.04
46.58
12.61
12.61
28.19
53.42
100.00
%
Next >
ARRERESCASSER](https://content.bartleby.com/qna-images/question/84750ce8-9775-44b3-8949-71118a85823f/b47fab2e-91bc-4c15-aadc-e9a2bae6dd40/7c65kp_thumbnail.jpeg)
Transcribed Image Text:Liabilmes and stockholders equity
Liabilities
Current liabilities
Notes payable
Accounts payable
Salaries payable
Total current liabilities
Noncurrent liabilities
Bonds payable
Other
Total noncurrent liabilities
Total liabilities
Stockholders' equity
Preferred stock (par value $10, 4% cumulative,
nonparticipating; 6,600 shares authorized and issued)
Common stock (no par; 50,000 shares authorized;
10,000 shares issued)
Retained earnings
Total stockholders' equity
Total liabilities and stockholders' equity
$ 16,400
112,300
19,400
148,100
98,800
31,600
130,400
278,500
66,000
66,000
175,000
307.000
$
585.500
5.74 X
39.33 X
6.80 X
51.87 X
34.61
11.07 X
45.67 X
97.55
23.12
23.12 X
61.30
107.53 X
205.08 %
$ 5,600
98,400
13,900
117,900
< Prev
98,800
27,000
125,800
243,700
66,000
66,000
147,500
279,500
$
523,200
Income Statement >
2 of 15
1.07
18.81
2.66
22.53
18.88
5.16
24.04
46.58
12.61
12.61
28.19
53.42
100.00
%
Next >
ARRERESCASSER
Solution
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