McCormick Optical Company reported the following amounts on its balance sheet at December 31: Cash and receivables

Question:

McCormick Optical Company reported the following amounts on its at December 31:
Cash and receivables ................................................................................... $ 49,980
Inventory ........................................................................................................ 43,470
Property, plant, and equipment, net ............................................................. 116,550
Total assets ................................................................................................. $210,000
Perform a vertical analysis of McCormick Optical Company's assets at year end.
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...