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Using these data from the comparative balance sheet of Sheridan Company, perform vertical analysis. (Round percentages to 1 decimal place, e.g. 12.5%.) Dec. 31, 2017 Dec. 31, 2016 Amount Percentage Amount Percentage Accounts receivable $ 540,000         Enter percentages   %        $ 363,000         Enter percentages   % Inventory $ 783,000         Enter percentages   %        $ 642,000         Enter percentages   % Total assets $3,120,000         Enter percentages        %        $2,704,000         Enter percentages   %

Using these data from the comparative balance sheet of Sheridan Company, perform vertical analysis. (Round percentages to 1 decimal place, e.g. 12.5%.) Dec. 31, 2017 Dec. 31, 2016 Amount Percentage Amount Percentage Accounts receivable $ 540,000         Enter percentages   %        $ 363,000         Enter percentages   % Inventory $ 783,000         Enter percentages   %        $ 642,000         Enter percentages   % Total assets $3,120,000         Enter percentages        %        $2,704,000         Enter percentages   %

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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Using these data from the comparative balance sheet of Sheridan Company, perform vertical analysis. (Round percentages to 1 decimal place, e.g. 12.5%.)

Dec. 31, 2017
Dec. 31, 2016
Amount
Percentage
Amount
Percentage
Accounts receivable
$ 540,000        
Enter percentages 
 %        $ 363,000        
Enter percentages 
 %
Inventory
$ 783,000        
Enter percentages 
 %        $ 642,000        
Enter percentages 
 %
Total assets
$3,120,000        
Enter percentages 
    
 %        $2,704,000        
Enter percentages 
 % 

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