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Table for Req 1: Pinnacle Plus declared and paid a cash dividend of $7,500 in the current year. Its comparative financial statements, prepared at December
Table for Req 1:
Pinnacle Plus declared and paid a cash dividend of $7,500 in the current year. Its comparative financial statements, prepared at December 31 , reported the following summarized information: Required: 1. Complete the two final columns shown beside each item in Pinnacle Plus's comparative financial statements. 2-a. Which account increased by the largest dollar amount? 2-b. Which account increased by the largest percentage? Complete the vertical analysis by computing each missing line item as a percentage of total assets. (Round your answers to the nearest whole percent.) SIMULTECH CORPORATION Balance Sheet (summarized) January 31 (in millions of U.S. dollars) \begin{tabular}{|l|r|r|l|l|l|} \hline Cash & $ & 1,018 & 45 & % & Current Liabilities \\ \hline Accounts Receivable & 279 & 12 & & Long-term Liabilities \\ \hline Inventory & 191 & 9 & Total Liabilities \\ \hline Other Current Assets & 304 & & & \\ \hline Property and Equipment & 24 & 1 & & Retained Earnings \\ \hline Other Assets & 430 & 19 & & \\ \hline Total Assets & Total Stockholders' Equity & \\ \hline \end{tabular}Step by Step Solution
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