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  3. fill in the missing amounts and perform a vertical

Fill in the missing amounts and perform a vertical analysis of the balance sheet below....

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Question

Accounting

  1. Fill in the missing amounts and perform a vertical analysis of the balance sheet below. What is the current ratio, and is this company doing well based on that ratio? _________

BROWN COMPANY

COMPARATIVE BALANCE SHEET

JULY 31, 2020

2017

Percent

ASSETS

Current Assets

Cash

$30,383

Accounts Receivable

$5,642

Merchandise inventory

Prepaid advertising

$1,254

Total Current Assets

$46,055

Property, Plant & Equipment (PP&E)

Building

$138,765

Land

Equipment

$51,222

Total PP&E

$414,958

TOTAL ASSETS

LIABILITIES

Current Liabilities

Accounts payable

$9,210

Salaries & wages payable

$14,223

Total current liabilities

$23,433

Long-term Liabilities

Mortgage note payable

$107,433

Total liabilities

$130,866

OWNERS EQUITY

J.Brown, capital

TOTAL LIABILITIES & OWNERS EQUITY

$461,013

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