Modern Moving Company reported the following amounts on its balance sheet as of December 31,2019 and December 31,2018: For the vertical analysis,what is the percentage of stockholders' equity as of December 31,2019? (Round your answer to two decimal places. )

Question

Modern Moving Company reported the following amounts on its balance sheet as of December 31,2019 and December 31,2018:  For the vertical analysis,what is the percentage of stockholders' equity as of December 31,2019? (Round your answer to two decimal places. )

Quizplus · Accepted Answer

Vertical analysis % = (Specific item / Base amount)× 100
Vertical analysis % = [($1,210,000 - 535,000)/ $1,210,000] × 100
Vertical analysis % = 55.79%

Modern Moving Company Reported the Following Amounts on Its Balance