Empire Moving Company reported the following amounts on its balance sheet as of December 31,2016 and December 31,2017:

For the vertical analysis,what is the percentage of total liabilities for December 31,2016? (Round your answer to two decimal places. )
A)100.00%
B)41.52%
C)36.26%
D)41.18%

Question

Empire Moving Company reported the following amounts on its balance sheet as of December 31,2016 and December 31,2017:

For the vertical analysis,what is the percentage of total liabilities for December 31,2016? (Round your answer to two decimal places. )
A)100.00% 
B)41.52% 
C)36.26% 
D)41.18%

Quizplus · Accepted Answer

D)Vertical analysis % = (Specific item / Base amount)× 100
Vertical analysis % = ($455,000 / $1,105,000)× 100
Vertical analysis % = 41.18%

Empire Moving Company Reported the Following Amounts on Its Balance