Using the following information from an annual report,prepare a vertical analysis of the consolidated statement of earnings for the fiscal year ended June 30,2013.(Round percentage answers to one decimal place.)
Definitions:
Liquidation
The process of converting a company's assets into cash to pay off creditors before closing the business.
Straight Bankruptcy
Also known as Chapter 7 bankruptcy, it involves the liquidation of a debtor's non-exempt assets to pay creditors.
Federal Law
Laws passed by the national government of the United States that apply throughout the country.
State Law
State law refers to the legal rules and regulations that are enacted and enforced by individual states within a country, as opposed to federal or national laws.
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