Purposeful Products Inc. has requested that you perform a vertical analysis of its balance sheet. Determine the
Question:
Purposeful Products Inc. has requested that you perform a vertical analysis of its balance sheet. Determine the component percentages of its assets, liabilities, and shareholders' equity.
PURPOSEFUL PRODUCTS INC.
Balance Sheet
December 31, 2017
Assets
Total current assets ………........…………………… 0219,000
Property, plant, and equipment, net …………. 267,000
Other assets ……………………..............…………….. 40,000
Total assets ……………………………...........……… $526,000
Liabilities
Total current liabilities ………………….....…….. $85,000
Long-term debt ……………………………........…. 156,000
Total liabilities ………………………........………. 241,000
Shareholders’ Equity
Total shareholders’ equity …………….......……… 285,000
Total liabilities and shareholders’ equity ….... $526,000
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Purposeful Products Inc Vertical Analysis of Balance Sheet December 31 2017 AMOUNT PERCENT ASSETS ...View the full answer
Horngrens Accounting
ISBN: 978-0133855388
10th Canadian edition Volume 2
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo Ann L. Johnston, Peter R. Norwood
