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The 2018 accounting records of New and Used, Inc., showed the following: Cash, $11,050, Accounts receivable, net, $4,250, Inventory, $22,100; Prepaid expenses, $3,400; Plant and
The 2018 accounting records of New and Used, Inc., showed the following: Cash, $11,050, Accounts receivable, net, $4,250, Inventory, $22,100; Prepaid expenses, $3,400; Plant and equipment, net, $44,200. Construct a vertical analysis of the asset section of New and Used, Inc. balance sheet for 2018 Complete the table below for your vertical analysis of the asset section. New and Used, Inc. Vertical Analysis Asset Section, 2018 Assets Amount Percent Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Plant and equipment, net 11,050 4,250 22,100 3,400 44,200 Total assets
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