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McCormick Designs reported the following amounts on its balance sheets at December 31, 2021, 2020, and 2019: (Click the icon to view the data.)
McCormick Designs reported the following amounts on its balance sheets at December 31, 2021, 2020, and 2019: (Click the icon to view the data.) Sales and profits are high. Nevertheless, McCormick is experiencing a cash shortage. Perform a vertical analysis of the company's assets at the end of years 2021, 2020, and 2019. Use the analysis to explain the reason for the cash shortage. Perform a vertical analysis of McCormick Software's assets at the end of years 2021, 2020, and 2019. (Round your answers to the nearest one-tenth of a percent, XX%. Do not enter the % symbol in any of the input fields.) McCormick Designs, Inc. Vertical Analysis Years Ended December 31, 2021, 2020, and 2019 2021 2020 2019 Amount Percent Amount Percent Amount Percent Cash $ 24,400 % $ 16,620 % $ 15,390 % Receivables, net 30,500 % 16,620 % 20,520 Inventory 317,200 % 243,760 % 189,810 % Prepaid expenses Property, plant and equipment, not 12,200 % 22,160 % 15,390 % 225,700 % 254,840 271,890 % % $ 610,000 $ 554,000 $ 513,000 Total assets
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