Reliable Moving Company Reported the Following Amounts on Its Balance

question 23

Multiple Choice

Reliable Moving Company reported the following amounts on its balance sheet as of December 31, 2019 and December 31, 2018: $$\begin{array} { | l | r | r | } \hline & { 2019 } &{ 2018 } \\\hline \text { Cash and Receivables } & \$ 75,000 & \$ 135,000 \\\hline \text { Merchandise Inventory } & 155,000 & 220,000 \\\hline \text { Property, Plant and Equipment, net } & 770,000 & 770,000 \\\hline \text { Total Assets } & \$ 1,000,000 & \$ 1,125,000 \\\hline \text { Total Liabilities } & \$ 465,000 & \$ 435,000 \\\hline\end{array}$$ For the vertical analysis, what is the percentage of total liabilities for December 31, 2018? (Round your answer to two decimal places.)

• A) 100.00%
• B) 46.50%
• C) 31.03%
• D) 38.67%

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