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Unformatted text preview: (Vertical Analysis) Amount (%) Sales $500,000 100% Err:511 Gross Profit 140,000 28% Err:511 Net Income 40,000 8% Err:511 Practice Exercise 17-3A Name: Section: Enter the appropriate amount or item in the shaded cel s. An asterisk (*) wil appear next to an incorrect item or amount in the outlined cel s. a. Current Assets $900,000 E ÷ $600,000 Er = 1.5 Err:511 b. Quick Assets $600,000 E ÷ $600,000 Er = 1.0 Err:511 Current Liabilities Current Ratio Current Liabilities Quick Ratio...
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- Spring '10
- Managerial Accounting, Generally Accepted Accounting Principles, Err, b. Quick Assets