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Help with Accounting Problems
3. Perform vertical analysis on both the balance sheet and income statement for 2005 and 2006.
Leeward Corporation Balance Sheet Vertical Analysis 2006 2005 Amount Percent Amount Percent Assets Cash and temporary investments $50,000 $40,000 Accounts receivable $70,000 $90,000 Inventories $120,000 $150,000 Total current assets $240,000 $280,000 Property, plant and equipment $780,000 $800,000 Total assets $1,020,000 $1,080,000 Liabilities & Stockholder’s Equity Current liabilities $100,000 $140,000 Long-term liabilities $300,000 $320,000 Common stockholder’s equity $620,000 $620,000 Total liabilities and stockholder’s equity $1,020,000 $1,080,000 |
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