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Allstate Moving Company Reported the Following Amounts on Its Balance

question 116

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Allstate Moving Company reported the following amounts on its balance sheet as of December 31, 2019 and December 31, 2018: 20192018 Cash and Receivables $75,000$145,000 Merchandise Inventory 175,000250,000 Property, Plant and Equipment, net 820,000710,000 Total Assets $1,070,000$1,105,000 Total Liabilities $455,000$405,000\begin{array} { | l | r | r | } \hline & { 2019 } & { 2018 } \\\hline \text { Cash and Receivables } & \$ 75,000 & \$ 145,000 \\\hline \text { Merchandise Inventory } & 175,000 & 250,000 \\\hline \text { Property, Plant and Equipment, net } & 820,000 & 710,000 \\\hline \text { Total Assets } & \$ 1,070,000 & \$ 1,105,000 \\\hline \text { Total Liabilities } & \$ 455,000 & \$ 405,000 \\\hline\end{array} For the vertical analysis, what is the percentage of current assets as of December 31, 2019? (Round your answer to two decimal places.)

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Sociohistorical Context

The social and historical setting that influences an event, idea, or concept, providing a backdrop that helps to understand contemporary issues.

Freud's Theory

A set of psychoanalytic theories developed by Sigmund Freud that emphasize the influence of the unconscious mind on behavior.

Prevailing Values

Dominant or most commonly held beliefs, standards, or principles within a society, organization, or community.

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