Liberty Corporation reported the following figures: (Click the icon to view the figures.) Vertical analysis of...
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Liberty Corporation reported the following figures: (Click the icon to view the figures.) Vertical analysis of Liberty's balance sheet for 2016 would report OA. Cash as 9.50% of total assets. OB. inventory turnover of 6 times. OC. a current ratio of 1.01. OD. a 17% increase in Cash. Cash and Cash Equivalents Accounts Receivables Merchandise Inventory Prepaid Expenses Total Current Assets Other Assets Total Assets Total Current Liabilities Long-term Liabilities Common Stock Retained Earnings Total Liabilities and Equity Sales Cost of Goods Sold Gross Profit Operating Expenses Operating Income $ $ $ $ $ 2016 2015 2,450 $ 2,094 1,813 1,611 1,324 1,060 1,709 2,120 7,296 6,885 18,500 15,737 25,796 $ 22,622 7,230 $ 4,798 6,568 4,363 7,200 6,000 25,796 $ 22,622 20,941 7,055 8,467 3,792 13,886 7,065 6,821 ► ▸ Liberty Corporation reported the following figures: (Click the icon to view the figures.) Vertical analysis of Liberty's balance sheet for 2016 would report OA. Cash as 9.50% of total assets. OB. inventory turnover of 6 times. OC. a current ratio of 1.01. OD. a 17% increase in Cash. Cash and Cash Equivalents Accounts Receivables Merchandise Inventory Prepaid Expenses Total Current Assets Other Assets Total Assets Total Current Liabilities Long-term Liabilities Common Stock Retained Earnings Total Liabilities and Equity Sales Cost of Goods Sold Gross Profit Operating Expenses Operating Income $ $ $ $ $ 2016 2015 2,450 $ 2,094 1,813 1,611 1,324 1,060 1,709 2,120 7,296 6,885 18,500 15,737 25,796 $ 22,622 7,230 $ 4,798 6,568 4,363 7,200 6,000 25,796 $ 22,622 20,941 7,055 8,467 3,792 13,886 7,065 6,821 ► ▸
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Related Book For
Horngrens Accounting
ISBN: 9780135359785
11th Canadian Edition Volume 2
Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo Ann Johnston, Peter R. Norwood
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