Prepare a Vertical Analysis for the Balance Sheet Data Given

question 27

Essay

Prepare a vertical analysis for the balance sheet data given below.(Round to two decimal places.)
Petals, Inc.
Balance Sheet
December 31, 2019 Assets
Current Assets:
$$\begin{array} { l l } \text { Cash and Cash Equivalents } & \$ 10,000 \\\text { Accounts Receivable, Net } & 15,600 \\\text { Merchandise Inventory } & \underline { 38,000 } \\\text { Total Cument Assets } & 63,600 \\\text { Long-term Invetments } & 15,000 \\\text { Property, Plant, and Equipment, Net } & \$ 195,000 \\\text { Total Assets } & \$ 273,600\end{array}$$ Liabilities
Current Liabilities:
$\begin{array}{ll}\text { Accounts Payable } & \$ 8,500 \\\text { Notes Payable } & \underline{1,400} \\\text { Total Current Liabilities } & 9,900 \\\text { Long-term Liabilities } & \underline{54,000} \\\text { Total Liabilities } & 63,900\end{array}$
Stockholders' Equity
$$\begin{array} { l l } \text { Common Stcck } & 161,000 \\\text { Retained Earnings } & \underline { 48,700 } \\\text { Total Stockholders' Equity } & \underline { 209,700 } \\\text { Total Liabilities and Stockholders' Equity } & \$ 273,600\end{array}$$