Complete a vertical analysis on the balance sheet for Mullen's Hardware for Dece

Mathematics
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Solve the problem. Express answers as a percent rounded to the nearest tenth.

Complete a vertical analysis on the balance sheet for Mullen's Hardware for December 31 of last year. The company assets are cash $11,000, accounts receivable $40,000, and merchandise inventory $96,000. The liabilities are accounts payable $19,000 and wages payable $25,000. The owner's capital is $103,000.

May 19th, 2015


Mullen's Hardware Balance Sheet

o  Cash: 7.5%

o  Accounts receivable: 27.2%

o  Merchandise inventory: 65.3%

o  Total assets: 100%

o  Accounts payable: 43.2%

o  Wages payable: 17.0%

o  Total liabilities: 29.9%

o  Mullen's capital: 70.1%

o  Total liabilities and owner's equity: 100%


May 19th, 2015

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May 19th, 2015
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