Solve the problem. Express answers as a percent rounded to the nearest tenth.
Complete a vertical analysis on the balance sheet for Jake's Janitorial Service for December 31 of last year. The company assets are cash 
accounts receivable 
merchandise inventory 
and equipment 
The liabilities are accounts payable 
wages payable 
and mortgage note payable 
The owner's capital is 
A. Jake's Janitorial Service Balance Sheet
Cash: 13.6%
Accounts receivable: 23.5%
Merchandise inventory: 37.6%
Equipment: 25.3%
Total assets: 100%
Accounts payable: 14.4%
Wages payable: 24.7%
Mortgage note payable: 26.7%
Total liabilities: 43.9%
Jake's capital: 56.1%
Total liabilities and owner's equity: 100%
B. Jake's Janitorial Service Balance Sheet
Cash: 13.6%
Accounts receivable: 23.5%
Merchandise inventory: 37.6%
Equipment: 25.3%
Total assets: 100%
Accounts payable: 6.3%
Wages payable: 10.9%
Mortgage note payable: 60.8%
Total liabilities: 43.9%
Jake's capital: 56.1%
Total liabilities and owner's equity: 100%
C. Jake's Janitorial Service Balance Sheet
Cash: 13.6%
Accounts receivable: 23.5%
Merchandise inventory: 37.6%
Equipment: 25.3%
Total assets: 100%
Accounts payable: 6.3%
Wages payable: 10.9%
Mortgage note payable: 26.7%
Total liabilities: 43.9%
Jake's capital: 56.1%
Total liabilities and owner's equity: 100%
D. Jake's Janitorial Service Balance Sheet
Cash: 13.6%
Accounts receivable: 23.5%
Merchandise inventory: 37.6%
Equipment: 25.3%
Total assets: 100%
Accounts payable: 14.4%
Wages payable: 24.7%
Mortgage note payable: 60.8%
Total liabilities: 100%
Jake's capital: 56.1%
Total liabilities and owner's equity: 100%
Answer: C
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