1. Fill in the missing amounts and perform a vertical analysis of the balance sheet below. What is the current ratio, and is this company doing well based on that ratio? _________

BROWN COMPANY

COMPARATIVE BALANCE SHEET

JULY 31, 2020

	2017	Percent
ASSETS
Current Assets
Cash	$30,383
Accounts Receivable	$5,642
Merchandise inventory
Prepaid advertising	$1,254
Total Current Assets	$46,055
Property, Plant & Equipment (PP&E)
Building	$138,765
Land
Equipment	$51,222
Total PP&E	$414,958
TOTAL ASSETS
LIABILITIES
Current Liabilities
Accounts payable	$9,210
Salaries & wages payable	$14,223
Total current liabilities	$23,433
Long-term Liabilities
Mortgage note payable	$107,433
Total liabilities	$130,866
OWNERS EQUITY
J.Brown, capital
TOTAL LIABILITIES & OWNERS EQUITY	$461,013