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The 2018 accounting records of Sullivan, Inc., showed the following: Cash, $14,400; Accounts receivable, net, S5,600; Inventory, $23,200; Prepaid expenses, $2,400; Plant and equipment, net,

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The 2018 accounting records of Sullivan, Inc., showed the following: Cash, $14,400; Accounts receivable, net, S5,600; Inventory, $23,200; Prepaid expenses, $2,400; Plant and equipment, net, $34,400 Construct a vertical analysis of the asset section of Sullivan, Inc. balance sheet for 2018 Sullivan, Inc. Vertical Analysis Asset Section, 2018 Assets Amount Percent Current assets: ( Cash Accounts receivable, net Inventory Prepaid expenses $14,400 5,600 23,200 2,400 )% Total current assets Plant and equipment, net Total assets 34,400 100 The 2018 accounting records of Sullivan, Inc., showed the following: Cash, $14,400; Accounts receivable, net, S5,600; Inventory, $23,200; Prepaid expenses, $2,400; Plant and equipment, net, $34,400 Construct a vertical analysis of the asset section of Sullivan, Inc. balance sheet for 2018 Sullivan, Inc. Vertical Analysis Asset Section, 2018 Assets Amount Percent Current assets: ( Cash Accounts receivable, net Inventory Prepaid expenses $14,400 5,600 23,200 2,400 )% Total current assets Plant and equipment, net Total assets 34,400 100

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