PROBLEM $2-$Statement of financial position presentation.

Given the following account information for Chan Corporation,

$($a$)$ Prepare a statement of financial position in report form for the

company as of December $31,2023..$HINT:TOTAL ASSETS $=$$$401,580$

$($b$)$ Perform vertical analysis $($common size balance sheet to show the

percentage of all the items as a percentage of Total Assets or Total

Equity and Liabilities. $($All accounts have normal balances$)$