The following are the comparative balance sheets of Hazel company.

2004 2003

Found 84.000 $ 78.000 $

Receivables (net) 56,000 37,000

Stock 52,000 40,000

Fixtures 180.000 175.000

372.000 $ 330.000 $

Accounts Payable $35,000 $28,000

Bonds Payable 80,000 100,000

Ordinary Shares – 20,000 shares 140,000 140,000

Retained Profits 117,000 62,000

372.000 $ 330.000 $

Here is some additional information for 2004:

Net income for Year 1 was $70,000.

2. All sales were on credit and net credit sales were $412,000.

3. The cost of goods sold was $210,000.

4. Cash dividends paid were $15,000.

5. Cash flow from operating activities was $74,000.

Use this information to answer the following question: (when asked about ratio, state the answer as a percentage. For example, 2.5:1 becomes 250%)

1. Using vertical analysis, what percentage of fixed assets would be in 2003? (Round to the nearest whole percent)