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Prepare a Vertical Analysis for the Balance Sheet Data Given

Question 64

Essay

Prepare a vertical analysis for the balance sheet data given below.(Round to two decimal places.)
Petals, Inc.
Balance Sheet
December 31, 2019 Assets
Current Assets:
 Cash and Cash Equivalents $10,000 Accounts Receivable, Net 15,600 Merchandise Inventory 38,000 Total Cument Assets 63,600 Long-term Invetments 15,000 Property, Plant, and Equipment, Net $195,000 Total Assets $273,600\begin{array} { l l } \text { Cash and Cash Equivalents } & \$ 10,000 \\\text { Accounts Receivable, Net } & 15,600 \\\text { Merchandise Inventory } & \underline { 38,000 } \\\text { Total Cument Assets } & 63,600 \\\text { Long-term Invetments } & 15,000 \\\text { Property, Plant, and Equipment, Net } & \$ 195,000 \\\text { Total Assets } & \$ 273,600\end{array} Liabilities
Current Liabilities:
 Accounts Payable $8,500 Notes Payable 1,400 Total Current Liabilities 9,900 Long-term Liabilities 54,000 Total Liabilities 63,900\begin{array}{ll}\text { Accounts Payable } & \$ 8,500 \\\text { Notes Payable } & \underline{1,400} \\\text { Total Current Liabilities } & 9,900 \\\text { Long-term Liabilities } & \underline{54,000} \\\text { Total Liabilities } & 63,900\end{array}
Stockholders' Equity
 Common Stcck 161,000 Retained Earnings 48,700 Total Stockholders’ Equity 209,700 Total Liabilities and Stockholders’ Equity $273,600\begin{array} { l l } \text { Common Stcck } & 161,000 \\\text { Retained Earnings } & \underline { 48,700 } \\\text { Total Stockholders' Equity } & \underline { 209,700 } \\\text { Total Liabilities and Stockholders' Equity } & \$ 273,600\end{array}

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Current Assets:
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