Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Other Information: Market price per share of Anna's Accessories was $25 per share as of November 30,2023 1 Perform vertical analysis on the current and

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Other Information: Market price per share of Anna's Accessories was $25 per share as of November 30,2023 1 Perform vertical analysis on the current and prior year of the above financial statements (For highlighted items onlv - see next tab) \begin{tabular}{|c|c|c|c|c|} \hline Cash & & 71,970 & $ & 36,880 \\ \hline \multicolumn{2}{|c|}{ Short-term investments } & $128,000 & $ & 14,000 \\ \hline \multicolumn{2}{|c|}{ Accounts receivable } & 35,660 & $ & 37,300 \\ \hline Inventory & & 79,570 & $ & 86,540 \\ \hline \multicolumn{2}{|l|}{ Prepaid expenses } & 3,600 & $ & 4,800 \\ \hline \multicolumn{2}{|l|}{ Total current assets } & $318,800 & $ & 179,520 \\ \hline \multirow{2}{*}{\multicolumn{2}{|c|}{ Long-term investments }} & & & \\ \hline & & $100,000 & $ & - \\ \hline \multicolumn{2}{|c|}{ Property, plant and equipment } & $607,930 & $ & 495,175 \\ \hline Total Assets & & $1,026,730 & $ & 674,695 \\ \hline \multicolumn{5}{|l|}{ Liabilities } \\ \hline \multicolumn{2}{|l|}{ Accounts payable } & 2,710 & $ & 8,650 \\ \hline \multicolumn{2}{|l|}{ Unearned revenue } & 4,600 & $ & 6,160 \\ \hline \multicolumn{2}{|c|}{ Current portion of long-term debt } & 4,800 & $ & 3,600 \\ \hline \multicolumn{2}{|c|}{ Total current liabilities } & $12,110 & $ & 18,410 \\ \hline Long-term debt & & 16,000 & $ & 24,600 \\ \hline Total Liabilities & & 28,110 & $ & 43,010 \\ \hline \multicolumn{5}{|c|}{ Shareholders' Equity } \\ \hline \multicolumn{5}{|c|}{ Share capital, unlimited common shares } \\ \hline \multicolumn{2}{|c|}{ authorized, 1,000 issued and outstanding } & 1,000 & $ & 1,000 \\ \hline \multicolumn{2}{|c|}{ Retained earnings } & $998,620 & $ & 631,685 \\ \hline \multicolumn{2}{|c|}{ 'Total Liabilities and Shareholders' Equity } & $1,026,730 & $ & 674,695 \\ \hline \end{tabular}

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Paul E. Dascher, Jerry R. Strawser, Robert H. Strawser, Ronald M. Copeland

8th Edition

0873937643, 978-0873937641

More Books

Students also viewed these Accounting questions

Question

Write short notes on Interviews.

Answered: 1 week ago