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Allstate Moving Company reported the following amounts on its balance sheet as of December​ 31, 2019 and December​ 31, 2018: 2019 2018 Cash and Receivables ​$75,000 ​$145,000 Merchandise Inventory ​175,000 ​250,000 ​Property, Plant and​ Equipment, net ​820,000 ​710,000 Total Assets ​$1,070,000 ​$1,105,000 Total Liabilities ​$455,000 ​$405,000 For the vertical​ analysis, what is the percentage of current assets as of December​ 31, 2019?​ (Round your answer to two decimal​ places.)

Respuesta :

Answer:

42.52%

Explanation:

Given that

Total Liabilities = $455,000

Total Assets = $1,070,000

The computation of percentage of current assets is shown below:-

Percentage of Total Liabilities = Total Liabilities ÷ Total Assets × 100

= $455,000 ÷ $1,070,000 × 100

= 0.4252 × 100

= 42.52%

Therefore for computing the percentage of current assets we simply apllied the above formula.

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