Allstate Moving Company Reported the Following Amounts on Its Balance

question 116

Multiple Choice

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

• A) 23.36%
• B) 35.75%
• C) 55.63%
• D) 30.49%

---

Definitions:

Patronage System

A practice where political leaders provide jobs and favors to their supporters as a reward for political support.

Party Loyalty

The allegiance of an individual to a particular political party, often leading to consistent support and advocacy for that party’s candidates and policies.

Political Parties

Organized groups of people with similar political aims and opinions that seek to influence public policy by getting their candidates elected to public office.

Local Organization

A community-based group or entity that operates within a specific geographical area to meet local needs.