Jessica & David are student interns at Balance Books Bookkeeping. they have taken several busness math accounting classes & are now applying what they have learned to real life situations. They enjoy their internship, but they aresometimes surprised by the assignments they are given. Luckily, they work together, so they share the ssignments & learn from each other. Their most recent assignment is to take a listing of accounts provided by one of balanced Books' clients & turn them into a balance sheet & income sheet & income statement. David suggests that their client might appreciate it if they also performed a vertical analysis of each statement. Jessica suggests thateach statement. Jessica suggests that they should also copute the surrent ratio & the acid-test ratio.
1. Create the financial statements for Dec 31, 2011, depict them in vertical format, & compute the current & acid test ratios.