Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac

Exercise 37

Vertical analysis of balance sheet
Balance sheet data for Novak Company on December 31, the end of two recent fiscal years, follows:

Prepare a comparative balance sheet for both years, stating each asset as a percent of total assets and each liability and stockholders' equity item as a percent of the total liabilities and stockholders' equity. Round to one decimal place.