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A condensed balance sheet for Northeast Airlines and a partially completed vertical analysis are presented below. Required: 1. Complete the vertical analysis by computing each

A condensed balance sheet for Northeast Airlines and a partially completed vertical analysis are presented below. Required: 1. Complete the vertical analysis by computing each missing line item as a percentage of total assets. (Round your answers to the nearest whole percent.) NORTHEAST AIRLINES Balance Sheet (summarized) December 31, 2013 (in millions of U.S. dollars) Cash $8,690 30 % Current Liabilities $6,113 21 % Accounts Receivable 374 1 Long-Term Liabilities 10,798 Inventory of Parts and Supplies 1,015 Total Liabilities 16,911 59 Other Current Assets 3,256 11 Common Stock 896 3 Property and Equipment, Net 13,555 Retained Earnings 10,706 38 Other Assets 1,623 6 Total Stockholders Equity 11,602 41 Total Assets $28,513 100 % Total Liabilities & Stockholders Equity $28,513 100 % 2-a. What percentages of Northeasts assets relate to inventory of parts and supplies? (Round your answer to the nearest whole percent.) 2-b. What percentage Northeasts assets relate to property and equipment? (Round your answer to the nearest whole percent.) 2-c. Which of these two asset groups is more significant to Northeasts business? Inventory of Parts and Supplies Property and Equipment 3. What percentage of Northeasts assets is financed by total stockholders equity? By total liabilities? (Round your answer to the nearest whole percent.)

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