Using these data from the comparative balance sheets of Blossom Company, perform vertical analysis. (Round percentages to 1 decimal place, e.g. 12.5%.) Dec. 31, 2022 Dec. 31, 2021 Amount Percentage Amount PercentageAccounts receivable (net) $424,551 enter Accounts receivable in percentages on Dec. 31, 2022 % $ 333,450 enter Accounts receivable in percentages on Dec. 31, 2022 %Inventory 707,585 enter Inventory in percentages on Dec. 31, 2022 % 589,950 enter Inventory in percentages on Dec. 31, 2022 %Total assets 3,011,000 enter Total assets in percentages on Dec. 31, 2022 % 2,565,000 enter Total assets in percentages on Dec. 31, 2022 %

VERTICAL ANALYSIS OF BALANCE SHEETVertical analysis is a proportional analysis of financial…

Answered: Using these data from the comparative…

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 sheets of Blossom Company, perform vertical analysis. (Round percentages to 1 decimal place, e.g. 12.5%.)

	Dec. 31, 2022	Dec. 31, 2021
	Amount	Percentage		Amount		Percentage
Accounts receivable (net)	$424,551	enter Accounts receivable in percentages on Dec. 31, 2022	%		$ 333,450		enter Accounts receivable in percentages on Dec. 31, 2022	%
Inventory	707,585	enter Inventory in percentages on Dec. 31, 2022	%		589,950		enter Inventory in percentages on Dec. 31, 2022	%
Total assets	3,011,000	enter Total assets in percentages on Dec. 31, 2022	%		2,565,000		enter Total assets in percentages on Dec. 31, 2022	%

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