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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
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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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 > < Prev 2 of 15 Next >
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 > < Prev 2 of 15 Next >
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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
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
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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
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
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