Condensed data from the comparative SFP of Legros Inc. follow: a. Using vertical (common-size) analysis, calculate the

Question:

Condensed data from the comparative SFP of Legros Inc. follow:

a. Using vertical (common-size) analysis, calculate the various SFP categories as a percentage of total assets for Legros for each of 2021, 2022, and 2023. Round answers to one decimal place.

b. Using horizontal analysis, calculate the changes in the key SFP categories from 2022 to 2023. Round answers to zero decimal places.

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Intermediate Accounting Volume 2

ISBN: 9781119740445

13th Canadian Edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy

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Question Posted: Jun 21, 2023 04:32 AM

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Condensed data from the comparative SFP of Legros Inc. follow: a. Using vertical (common-size) analysis, calculate the

Question:

Current assets Non-current assets Current liabilities Non-current liabilities Common shares Retained earnings 2023 $120,000 400,000 70,000 165,000 150,000 135,000 2022 $ 80,000 350,000 90,000 105,000 115,000 120,000 2021 $100,000 300,000 65,000 150,000 100,000 85,000

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a Total assets for each of the three years are as follows 2021 4000002022 430000202...View the full answer

Intermediate Accounting Volume 2

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