YEAR 1 YEAR2 ASSETS CURRENT ASSETS Cash 210,000 467,550 Accounts Receivable 930,000 883,200 Merchandise Inventory 220,000 198,500 Supplies 90,000 125,000 TOTAL CURRENT ASSETS 1,450,000 1,674,250...

With the statement of financial position below, conduct a vertical analysis.YEAR 1<br>YEAR2<br>ASSETS<br>CURRENT ASSETS<br>Cash<br>210,000<br>467,550<br>Accounts Receivable<br>930,000<br>883,200<br>Merchandise Inventory<br>220,000<br>198,500<br>Supplies<br>90,000<br>125,000<br>TOTAL CURRENT ASSETS<br>1,450,000<br>1,674,250<br>NON-CURRENT ASSETS<br>Office Equipment<br>1,890,000<br>2,378,500<br>Accumulated Depreciation- Office Equipment<br>-800,000<br>-950,000<br>TOTAL NON-CURRENT ASSETS<br>1,090,000<br>1,428,500<br>TOTAL ASSETS<br>2,540,000<br>3,102,750<br>LIABILITIES<br>CURRENT LIABILITIES<br>Accounts Payable<br>Salaries Payable<br>Interest Payable<br>190,000<br>192,830<br>140,000<br>178,500<br>60,000<br>75,000<br>TOTAL CURRENT LIABILITIES<br>390,000<br>446,330<br>NON-CURRENT LIABILITIES<br>Notes Payable<br>580,000<br>450,000<br>TOTAL NON-CURRENT LIABILITIES<br>580,000<br>450,000<br>TOTAL LIABILITIES<br>970,000<br>896,330<br>OWNER'S EQUITY<br>|Shoe Express, Capital<br>1,570,000<br>2,206,420<br>TOTAL LIABILITIES AND OWNER'S EQUITY<br>2,540,000<br>3,102,750<br>

Extracted text: YEAR 1 YEAR2 ASSETS CURRENT ASSETS Cash 210,000 467,550 Accounts Receivable 930,000 883,200 Merchandise Inventory 220,000 198,500 Supplies 90,000 125,000 TOTAL CURRENT ASSETS 1,450,000 1,674,250 NON-CURRENT ASSETS Office Equipment 1,890,000 2,378,500 Accumulated Depreciation- Office Equipment -800,000 -950,000 TOTAL NON-CURRENT ASSETS 1,090,000 1,428,500 TOTAL ASSETS 2,540,000 3,102,750 LIABILITIES CURRENT LIABILITIES Accounts Payable Salaries Payable Interest Payable 190,000 192,830 140,000 178,500 60,000 75,000 TOTAL CURRENT LIABILITIES 390,000 446,330 NON-CURRENT LIABILITIES Notes Payable 580,000 450,000 TOTAL NON-CURRENT LIABILITIES 580,000 450,000 TOTAL LIABILITIES 970,000 896,330 OWNER'S EQUITY |Shoe Express, Capital 1,570,000 2,206,420 TOTAL LIABILITIES AND OWNER'S EQUITY 2,540,000 3,102,750

Jun 09, 2022
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