Please solve this question

Please solve this question

17) Prepare the vertical analysis report of the balance sheet data given below: Round off the percentages to two decimal places Balance Sheet December 31, 2015 Assets 2015 Current Assets: Cash and Cash Equivalents $10,000 Accounts Receivable, Net Merchandise Inventory Total Current Assets 15,600 38,000 $63,600 Long-term Investments Property, Plant, and Equipment, Net Total Assets $15,000 195,000 $273,600 Liabilities Current Liabilities: Accounts Payable Notes Payable $8,500 1400 Total Current Liabilities $9,900 $54,000 Long-term Liabilities Total Liabilities $63,900 Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity $161,000 48,700 209,700 $273,600 3) A high current ratio indiates that current liabilities are more than current assets Answer: FALSE Diff LO 17-4 Concept