Brief Exercise 135 Your answer is partially correct Try agai

Brief Exercise 13-5 Your answer is partially correct. Try again. Using these data from the comparative balance sheet of Ivanhoe Company, perform vertical analysis. (Round percentages to 1 decimal place, e.g. 12.5%.) Dec. 31, 2017 Dec. 31, 2016 Amount Percentage Amou nt Percentage 76% $ 433,000 25196 $ 633,000 100% $2,779,000 Accounts receivable $579,000 $776,000 $3,103,000 691 % 2511% 1001 % Inventory Total assets Click if you would like to Show Work for this question: Open Show Work

Solution

Dec, 31, 2017 Dec, 31, 2016 Amount Perecntage Amount Perecntage Accounts Receivable $     5,79,000 18.7% $ 4,33,000 15.6% Inventory $     7,76,000 25.0% $ 6,33,000 22.8% Total Assets $   31,03,000 100.0% $27,79,000 100.0% Working: Dec, 31, 2017: Accounts Receivable = $     5,79,000 / $31,03,000 = 18.7% Inventory = $     7,76,000 / $31,03,000 = 25.0% Dec, 31, 2016: Accounts Receivable = $     4,33,000 / $27,79,000 = 15.6% Inventory = $     6,33,000 / $27,79,000 = 22.8%