Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

X E12-14A (similar to) A Question Help Mary's Gift Store, Inc., requested that you perform a vertical analysis of its balance sheet to determine the

image text in transcribed

X E12-14A (similar to) A Question Help Mary's Gift Store, Inc., requested that you perform a vertical analysis of its balance sheet to determine the component percentages of its assets, liabilities, and stockholders' equity. Round to the nearest tenth of a percent. E: (Click the icon to view the balance sheet of the company.) Data Table Mary's Gift Store, Inc. Vertical Analysis of Balance Sheet December 31, 2018 Amount Percent Assets Mary's Gift Store, Inc. Balance Sheet Total current assets $ % December 31, 2018 Long-term investments 127,000 66,500 355,500 % Assets Liabilities Property, plant, and equipment, net % Total current assets $ 127,000 Total current liabilities $ 549,000 Total assets 100.0 % $ 108,000 130,000 Long-term investments 66,500 Long-term debt Liabilities Property, plant, and equipment, net 355,500 Total liabilities 238,000 Total current liabilities $ % 108,000 130,000 % Long-term debt Total liabilities Stockholders' Equity 238,000 % 311,000 Stockholders' Equity Total stockholders' equity 549,000 Total liabilities and stockholders' equity $ $ 549,000 Total assets Total stockholders' equity 311,000 $ 549,000 % 100.0 % Total liabilities and stockholders' equity Print Done Enter any number in the edit fields and then click Check Answer. All parts showing Clear All Check

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Jeffrey Waybright, Robert Kemp

1st Edition

013606048X, 9780136060482

More Books

Students also viewed these Accounting questions