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send this answer as soon as possible Question 4 Beetle Groceries Ltd. reports the following set of financial statements for 2020. Required - Using the
send this answer as soon as possible
Question 4 Beetle Groceries Ltd. reports the following set of financial statements for 2020. Required - Using the following information, perform a vertical analysis for the income statement and balance sheet for 2020: (11.5 marks) Beetle Groceries Ltd. Income Statement For the Year Ended December 31, 2020 % Sales Revenue Cost of goods sold Gross Margin 2019 $ 585,000 $366,000 $ 219,000 Operating Expenses Selling and general expenses Interest expense Total expenses Net Income $ 170,000 $ 11,200 $ 181,200 $ 37,800 Question 4 (con't) Beetle Groceries Ltd. Balance Sheet 31-Dec-20 % Assets Cash Accounts Receivable Inventory Prepaid Expenses Total Current Assets 2019 $ 40,000 $ 11,000 $ 31,500 $ 5,000 $ 87,500 Long Term Investments Property, plant and equipment, net Total Assets $ 70,000 $ 157,500 Liabilities Accounts Payable Income Taxes Payable Other liabilities Total Current Liabilities $ 12,500 $ 1,500 $ 65,000 $ 79,000 Long Term Debt Total Liabilities $ 11,100 $ 90,100 Shareholder Equity Common Shares Retained Earning Total Shareholders Equity Total Liabilities & Shareholder's Equity $ 50,000 $ 17,400 $ 67,400 $ 157,500Step by Step Solution
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