Accounting Help

Required: 1. Complete the vertical analysis by computing each missing line item as a percentage of total assets. (Round your answers to the nearest whole percent.) SIMULTECH CORPORATION Balance Sheet (summarized) January 31, 2012 (in millions of U.S. dollars) Cash and Short-Term Investments 374 459 22% Current Liabilities Accounts Receivable 391 23 Long-Term Liabilities 476 12 Total Liabilities Inventories 204 935 374 Contributed Capital Other Current Assets 170 Property and Equipment 68 Retained Earnings 391 493 29 Total Shareholders' Equity 765 Other Assets Total Liabilities & $1,700 $1,700 Total Assets 100% Shareholders' Equity 2-a. What percentage of Simultech's total assets relate to inventories? Inventory 2-b. What percentage of Simultech's total assets relate to property and equipment? Property and equipment 2-c. What does this tell you about the relative significance of these two assets to Simultech's business? This indicates that inventory is a much more significant asset than property and equipment. This indicates that property and equipment is a much more significant asset than inventory. 3. What percentage of Simultech's assets is financed by total Shareholders equity? By total liabilities? Percentage Total Shareholders equity Liabilities 27% 28 23 100