Kim\'s Painting, Inc., requested that you perform a vertical analysis of its bal

Question

Kim's Painting, Inc., requested that you perform a vertical analysis of its balance sheet to determine the component percentages of its assets, iabilities, and stockholders' equity. Round to the nearest tenth of a percen XX%. (Click the icon to view the balance sheet of the oompany) Vertical Analysis of Balance Sheet December 31, 2016 Data Table Amount Percent Kim's Painting, Inc. Balance Sheet December 31, 2016 s 119,0001 Total current assets Long-term investments Property, plant, and equipment, net Total assels ? 61,500 345,500 Liabilities 526.00 100.0 $ 110,000 77.000 119 Total current iabilities Total current assets Long-term investments Property, plant, and equipment, ne 61,500 345 500 Total Sabilities debt Total cument lablites Long-term debt Total lablities 110,000 177,00 287,000 7,000 % % Stockholders Equity Stockholders' Equity 239.000 Total slockholders' equty 39,000 Total stockholders equty S 526,000 Total liabilities and stockhoidens' equity Total assets 526,000 100 Ital liabines and stockholders' equity

Explanation / Answer

Kim's Painting Inc. Common size balance sheet Amount Total Current Assets $      119,000.00 ($119000/$526000)*100 22.62% Long Term Investments $        61,500.00 ($61500/$526000)*100 11.69% Property,Plant and Equipment,net $      345,500.00 ($345500/$526000)*100 65.68% Total Assets $      526,000.00 ($526000/$526000)*100 100.00% Total Current Liabilities $      110,000.00 ($110000/$526000)*100 20.91% Long Term Debts $      177,000.00 ($177000/$526000)*100 33.65% Total Liabilities $      287,000.00 ($287000/$526000)*100 54.56% Stockholder's Equity Total Stockholder's Equity $      239,000.00 ($239000/$526000)*100 45.44% Total Liabilites & Owner's Equity $      526,000.00 100.00%

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