Required

Prepare a vertical analysis of both the balance sheets and income statements for 2019 and 2018.

Complete this question by entering your answers in the tabs below.

• Analysis Bal Sheet
• Analysis Inc Stmt

Prepare a vertical analysis of the balance sheets for 2019 and 2018. (Percentages may not add exactly due to rounding. Round your answers to 2 decimal places. (i.e., .2345 should be entered as 23.45).)

ALLENDALE COMPANY
Vertical Analysis of Balance Sheets
	2019			2018
	Amount	Percentage of Sales		Amount	Percentage of Sales
Assets
Current assets
Cash	$40,000		%	$36,000		%
Marketable securities	20,000			6,000
Accounts receivable (net)	54,000			46,000
Inventories	135,000			143,000
Prepaid items	25,000			10,000
Total current assets	274,000			241,000
Investments	27,000			20,000
Plant (net)	270,000			255,000
Land	29,000			24,000
Total long-term assets	326,000			299,000
Total assets	$600,000			$540,000
Liabilities and stockholders' equity
Liabilities
Current liabilities
Notes payable	$17,000			$6,000
Accounts payable	113,800			100,000
Salaries payable	21,000			15,000
Total current liabilities	151,800			121,000
Noncurrent liabilities
Bonds payable	100,000			100,000
Other	32,000			27,000
Total noncurrent liabilities	132,000			127,000
Total liabilities	283,800			248,000
Stockholders' equity
Preferred stock (par value $10, 4% cumulative, nonparticipating; 8,000 shares authorized and issued)	80,000			80,000
Common stock (no par; 50,000 shares authorized; 10,000 shares issued)	80,000			80,000
Retained earnings	156,200			132,000
Total stockholders' equity	316,200			292,000
Total liabilities & stockholders equity	$600,000		%	$540,000		%

Complete this question by entering your answers in the tabs below.

• Analysis Bal Sheet
• Analysis Inc Stmt

Prepare a vertical analysis of an income statements for 2019 and 2018. (Percentages may not add exactly due to rounding. Round your answers to 2 decimal places. (i.e., .2345 should be entered as 23.45).)

ALLENDALE COMPANY
Vertical Analysis of Income Statements
	2019			2018
	Amount	Percentage of Total		Amount	Percentage of Total
Revenues
Sales (net)	$230,000		%	$210,000		%
Other revenues	8,000			5,000
Total revenues	238,000			215,000
Expenses
Cost of goods sold	120,000			103,000
Selling, general, and administrative expense	55,000			50,000
Interest expense	8,000			7,200
Income tax expense	23,000			22,000
Total expenses	206,000			182,200
Net income	$32,000		%	$32,800		%