Question

Using these data from the comparative balance sheet of Ivanhoe Company, perform vertical analysis. (Round percentages to 1 decimal place, e.g. 12.5%.)

		Dec. 31, 2022					Dec. 31, 2021
		Amount		Percentage			Amount		Percentage
Accounts receivable		$ 362,700		Enter a value in percentages rounded to 1 decimal place.	%		$ 310,000		Enter a value in percentages rounded to 1 decimal place.	%
Inventory		$ 677,600		Enter a value in percentages rounded to 1 decimal place.	%		$ 560,000		Enter a value in percentages rounded to 1 decimal place.	%
Total assets		$3,139,500		Enter a value in percentages rounded to 1 decimal place.	%		$2,730,000		Enter a value in percentages rounded to 1 decimal place.	%

Answer 1

Solution

Vertical analysis
	Dec. 31, 2022		Dec. 31, 2021
	Amount	Percentage	Amount	Percentage
Accounts receivable	$ 362,700	11.6%	$ 310,000	11.4%
Inventory	$ 677,600	21.6%	$ 560,000	20.5%
Total Assets	$ 3,139,500	100.0%	$ 2,730,000	100.0%