Q4SE Great Value Optical Company repo... [FREE SOLUTION]

Chapter 15: Q4SE (page 836)

Great Value Optical Company reported the following amounts on its balance sheet at
December 31, 2018 and 2017:
2018 2017
Cash and Receivables \( 80,640 \) 80,575
Merchandise Inventory 56,840 54,450
Property, Plant, and Equipment, Net 142,520 139,975
Total Assets \( 280,000 \) 275,000
Prepare a vertical analysis of Great Value鈥檚 assets for 2018 and 2017.

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Answer

Cash and Cash Receivables decrease and Inventory Increases but Property plant and equipment remain constant.

Great Value Optical Company
Balance Sheet (Partial)
December 31, 2018 and 2017
	2018		2017
	Amount	Percent of Total	Amount	Percent of Total
December 31, 2018 and 2017	80,640	28.8%	80,575	29.3%
Merchandise Inventory	56,840	20.3%	54,450	19.8%
Property, Plant and equipment, net	142,520	50.9%	139,97	50.9%
Total Assets	280,000	100.0%	275,000	100%

Great Value Optical Company
Balance Sheet (Partial)
December 31, 2018 and 2017
	2018		2017
	Amount	Percent of Total	Amount	Percent of Total
Cash and Receivables(a)	80,640	(a/d)	(a/d)	(a/d)
Merchandise Inventory(b)	(a/d)	(b/d)	(b/d)	(b/d)
Property, Plant and equipment, net(C)	(b/d)	(c/d)	(c/d)	(c/d)
Total Assets(d)	280,000	(d/d)	(d/d)	(d/d)

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MICATIN INC. Comparative Income Statement Years Ended December 31, 2019, and 2018
Dollars in thousands	2019	2018	2017
Net Sales Revenue	\( 181,000	\) 160,000
Cost of Goods Sold	93,500	86,500
Selling and Administrative Expenses	45,000	40,500
Interest Expense	8,000	12,000
Income Tax Expense	11,000	10,500
Net Income	\( 23,500	\) 10,500

Additional data:
Total Assets	\( 209,000	\) 187,000	\( 167,000
Common Stockholders鈥� Equity	96,000	91,500	80,500
Preferred Dividends	2,000	2,000	0
Common Shares Outstanding During the Year	15,000	15,000	10,000