Prepare a vertical analysis of the balance sheets for Year 4 and Year 3. (Percentages may not add exactly due to rounding Round your answers to 2 decimal places. (i.e., .2345 should be entered as 23.45).) Assets Current assets Cash 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 RUNDLE COMPANY Vertical Analysis of Balance Sheets Year 4 Total noncurrent liabilities Total liabilities Stockholders' equity Preferred stock (par value $10, 4% cumulative, nonparticipating; 6,000 shares authorized and issued) Common stock (no par; 50,000 shares authorized; 10,000 shares issued) Retained earnings Total stockholders' equity Total liabilities & stockholders' equity Amount $ 16,900 21,000 55,100 135,400 25,900 254,300 28,200 271,400 29,100 328,700 $ 583,000 $ 15,100 112,500 19,800 147,400 98,100 30,700 128,800 276,200 60,000 60,000 186,800 306,800 $ 583,000 Percentage of Total Amount % Year 3 % $ 12,500 6,200 46,400 144,400 10,900 220,400 20,000 255,800 25,800 301,600 $ 522,000 $ 5,000 98,200 14,300 117,500 98,100 26,500 124,600 242,100 60,000 60,000 159,900 279,900 $ 522,000 Percentage of Total % %

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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Prepare a vertical analysis of the balance sheets for Year 4 and Year 3. (Percentages may not add exactly due to rounding Round your answers to 2 decimal places. (i.e., .2345 should be entered as 23.45).) Assets Current assets Cash 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 RUNDLE COMPANY Vertical Analysis of Balance Sheets Year 4 Total noncurrent liabilities Total liabilities Stockholders' equity Preferred stock (par value $10, 4% cumulative, nonparticipating; 6,000 shares authorized and issued) Common stock (no par; 50,000 shares authorized; 10,000 shares issued) Retained earnings Total stockholders' equity Total liabilities & stockholders' equity Amount $ 16,900 21,000 55,100 135,400 25,900 254,300 28,200 271,400 29,100 328,700 $ 583,000 $ 15,100 112,500 19,800 147,400 98,100 30,700 128,800 276,200 60,000 60,000 186,800 306,800 $ 583,000 Percentage of Total Amount % Year 3 % $ 12,500 6,200 46,400 144,400 10,900 220,400 20,000 255,800 25,800 301,600 $ 522,000 $ 5,000 98,200 14,300 117,500 98,100 26,500 124,600 242,100 60,000 60,000 159,900 279,900 $ 522,000 Percentage of Total % %

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