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Prepare a vertical analysis for Lake of Bays Corporation's balance sheet to determine the component percentages of its assets, liabilities, and shareholders' equity. Round percentages
Prepare a vertical analysis for Lake of Bays Corporation's balance sheet to determine the component percentages of its assets, liabilities, and shareholders' equity. Round percentages to the nearest one-tenth percent.
Lake of Bays Corporation
Balance Sheet
December 31, 2023
Assets | |
Total current assets | $ 320,000 |
Long-term investments | 100,000 |
Property, plant, and equipment, net | 855,000 |
Total assets | $1,275,000 |
Liabilities | |
Total current liabilities | $210,000 |
Non-current debt | 480,000 |
Total liabilities | $690,000 |
Shareholders' equity | |
Total shareholders' equity | $585,000 |
Total liabilities and shareholders' equity | $1,275,000 |
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