Answered step by step
Verified Expert Solution
Question
1 Approved Answer
2 Required: 1. Prepare a vertical analysis of the balance sheet data for 2022 and 2021 Express each amount as a percentage of total
2 Required: 1. Prepare a vertical analysis of the balance sheet data for 2022 and 2021 Express each amount as a percentage of total assets. (Amounts to be deducted should be indicated by a minus sign. Round your answers to 1 decimal place.) FEDERER SPORTS APPAREL Balance Sheet December 31 Assets Cash Accounts receivable: 2022 Amount % $ 2,300,000 1,500,000 Inventory 2,800,000 Buildings ces Less Accumulated depreciation 11,000,000 (2,000,000) Total assets $ 15,600,000 Liabilities and Stockholders' Equity Accounts payable $ 1,450,000 Contingent liability 1,500,000 Common stock 8,000,000 Retained earnings 4.650.000 2021 Amount % S 800,000 1,200,000 1,700,000 11,000,000 (1,000,000) $ 13.700,000 $ 1,700.000 8,000,000 4.000,000 Beck my work Required information Assets Cash Accounts receivable Inventory Buildings Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Amount % $ 2,300,000 1,500,000 2,800,000 11,000,000 (2,000,000) $ 15,600,000 $ 1,450,000 1,500,000 8,000,000 4,650,000 Amount $ 800,000 1,200,000 1,700,000 11,000,000 (1,000,000) $ 13,700,000 $ 1,700,000 8,000,000 4,000,000 $ 13,700,000 Accounts payable Contingent liability Common stock Retained earnings Total liabilities and stockholders' equity $ 15,600,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started