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completely confused with this question Vertical Analysis of Balance Sheet Balance sheet data for Peacock Company on December 31, the end of the fiscal year,
completely confused with this question
Vertical Analysis of Balance Sheet Balance sheet data for Peacock Company on December 31, the end of the fiscal year, are shown below. 2014 2013 Current assets Property, plant, and equipment Intangible assets Current liabilities Long-term liabilities Common stock Retained earnings $1,050,000 750,000 1,960,000 2,100,000 150,000 420,000 1,200,000 490,000 630,000 1,260,000 1,260,000 1 1,080,000 Hints) Hide Prepare a comparative balance sheet for 2014 and 2013, stating each asset as a percent of total assets and each liability and stockholders' equity item as a percent of the total liabilities and stockholders' equity. Peacock Company Comparative Balance Sheet December 31, 2014 and 2013 2014 Amount 1,050,000 1,960,000 2014 Percent 2013 Amount 2013 Percent Current assets 40 %e S 750,000 Property, plant, and equipment 15 correct % 2,100,000 20 % 150,000 25 %e $3,000,000 30 % $420,000 35 % 1,200,000 40 %a 300,000 45 % 1,080,000 Intangible assets 490,000 Total assets 5 3,500,000 630,000 1,260,000 350,000 Current liabilities Long-term liabilities Common stock Retained earnings 1,260,000 Total liabilities and stockholders' equity 3,500,000 50 % $3,000,000Step by Step Solution
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