Using these data from the comparative balance sheet of K. Leen Company, perform vertical analysis. (Round answers to 1 decimal place, e. g. 15.2.)

December 31, 2017 December 31, 2016
December 31, 2017 Percentage December 31, 2016 Percentage
Accounts-
Receivable $400,000 $400,000
Inventory 864,000 600,000
Total Assets 3,200,000 3,000,000

hi : ) i found this so i hope this !

"we first find value of tax in dollars.

the difference between the two prices   is: 23. 54 - 22 = 1.54

therefore the sales tax in dollars is 1.54

the tax % will be   (amount of tax / original cost price ) × 100

(1.54 / 22) × 100  → (0.07) × 100 =   7

so the tax rate is 7%

we can double check the answer.

7 % of 22   → (7/100) × 22 → 0.07 × 22 = 1.54

22 + 1.54 = 23.54"

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