Allstate Moving Company Reported the Following Amounts on Its Balance

question 88

Multiple Choice

Allstate Moving Company reported the following amounts on its balance sheet as of December 31,2019 and December 31,2018: $$\begin{array} { | l | r | r | } \hline & { 2019 } & { 2018 } \\\hline \text { Cash and Receivables } & \$ 165,000 & \$ 75,000 \\\hline \text { Merchandise Inventory } & 175,000 & 250,000 \\\hline \text { Property, Plant and Equipment, net } & 820,000 & 780,000 \\\hline \text { Total Assets } & \$ 1,160,000 & \$ 1,105,000 \\\hline \text { Total Liabilities } & \$ 475,000 & \$ 385,000 \\\hline\end{array}$$ For the vertical analysis,what is the percentage of current assets as of December 31,2019? (Round your answer to two decimal places.)

• A) 29.31%
• B) 29.41%
• C) 41.67%
• D) 41.46%

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