Exercise 23.2 Vertical analysis of balance sheet. LO 23-1

CANNA, Inc. Comparative Balance Sheet December 31, 2019 and 2018
	2019		2018
Assets
Current Assets
Cash	124,540		112,250
Accounts receivable (Net)	135,750		107,000
Inventory	55,705		60,800
Total current assets	315,995		280,050
Property, Plant, and Equipment
Buildings (Net)	157,600		175,100
Equipment (Net)	65,950		63,850
Land	56,000		56,000
Total property, plant, and equipment	279,550		294,950
Total assets	595,545		575,000
Liabilities and Stockholders Equity
Current Liabilities
Accounts payable	155,000		160,000
Other current liabilities	40,000		45,000
Total current liabilities	195,000		205,000
Long-Term Liabilities
Bonds payable	65,000		75,000
Total long-term liabilities	65,000		75,000
Total liabilities	260,000		280,000
Stockholders Equity
Common stock ($1 par)	200,000		200,000
Retained earnings	135,545		95,000
Total stockholders equity	335,545		295,000
Total liabilities and stockholders equity	595,545		575,000

Prepare a vertical analysis of all asset items on the comparative balance sheet for the years 2019 and 2018. (Round your percentage answers to 1 decimal place. i.e., 0.123 should be entered as 12.3.)

CANNA, Inc.
Comparative Balance Sheet (Partial)
December 31, 2019 and 2018
	2019			2018
Assets
Current Assets
Cash	124,540		%	112,250		%
Accounts Receivable (Net)	135,750		%	107,000		%
Inventory	55,705		%	60,800		%
Total current assets	315,995		%	280,050		%
Property, Plant, and Equipment
Buildings (Net)	157,600		%	175,100		%
Equipment (Net)	65,950		%	63,850		%
Land	56,000		%	56,000		%
Total property, plant, and equipment	279,550		%	294,950		%
Total assets	595,545		%	575,000		%