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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