Use the following financial information to prepare a balance sheet with vertical analysis as of June 30, 2015, for Stargate Industries, Inc.: 

cash, $44,300; 

accounts receivable, $127,600; 

merchandise inventory, $88,100; 

prepaid maintenance, $4,100; 

office supplies, $4,000;

land, $154,000; building, $237,000; 

fixtures, $21,400; 

vehicles, $64,000; 

computers, $13,000; 

goodwill, $20,000;

investments, $32,000; 

accounts payable, $55,700; 

salaries payable, $23,200; 

notes payable (6-month), $38,000;

mortgage payable, $91,300; 

debenture bonds, $165,000; 

common stock, $350,000; 

and retained earnings, $86,300. 

Note: Round each answer to the nearest tenth percent. Use Excel's Round function and round your decimal results to 3 places in order to round the percents to tenths

Answer rating: 100% (QA)

Here is the balance sheet for Stargate Industries with vertical analysis as of June 30 2015 Star... View the full answer