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Find what percentage of total assets would lantana show

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Reference no: EM132927933

Problem 1: Lantana Co. had the following selected financial information (this is not complete balance sheet information): Equipment, $410,000; Land, $380,000; Building, $820,000; Total liabilities, $520,000; and Total equity, $1,590,000. If Lantana performed a vertical analysis on the Equipment account, what percentage of total assets would Lantana show for the equipment?

Option 1: 25.5%
Option 2: 19.4%
Option 3: Cannot be determined from the given information
Option 4: 38.9%
Option 5: 18.0%

Reference no: EM132927933

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