Brink Moving Company Reported the Following Amounts on Its Balance

question 133

Multiple Choice

Brink Moving Company reported the following amounts on its balance sheet as of December 31,2016 and December 31,2017: $$\begin{array} { | l | r | r | } \hline & { 2017 } & { 2016 } \\\hline \text { Cash and Receivables } & \$ 75,000 & \$ 145,000 \\\hline \text { Merchandise Inventory } & 215,000 & 170,000 \\\hline \text { Property, Plant and Equipment, net } & 750,000 & 800,000 \\\hline \text { Total Assets } & \$ 1,040,000 & \$ 1,115,000 \\\hline \text { Total Liabilities } & \$ 495,000 & \$ 435,000 \\\hline\end{array}$$ For the vertical analysis,what is the percentage of current assets as of December 31,2017? (Round your answer to two decimal places. )

• A)27.88%
• B)28.25%
• C)39.38%
• D)38.67%

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Definitions:

Ross Perot

An American businessman and politician known for founding Electronic Data Systems and running as an independent candidate in the 1992 U.S. presidential election.

Campaign Donations

Financial contributions given to support a candidate, political campaign, or political party.

Balanced Budget

A financial plan where total revenues are equal to or greater than total expenses, eliminating deficits.