Question One: (61) (10 Marks) Using the Balance Sheet for Muharraq International Corporation for the year of 2017: Balance Sheet for Muharraq International Corporation (2017) Assets 2017 Vertical Analysis Cash (0.5 mark) 52 Accounts Receivable (0.5 mark) 402 Inventory (0.5 mark) 836 Total Current Assets 1,290 Fixed Assets (1 mark) 361 Total Assets 1,651 Liabilities and Owner's Equity Accounts Payable (0.5 mark) 175 Notes Payable (0.5 mark) 225 Accruals (0.5 mark) 140 Total Current Liabilities 540 Long Term Debts (1 mark) 425 Total Liabilities 965 Common Stocks (1 mark) 460 Retained Earnings (1 mark) 226 Total Shareholder's Equity (1 mark) 686 Total Liabilities and Owner's Equity 1,651 Required: Prepare Common Size Balance Sheet using Vertical Analysis Method? (8 Marks) • Comment on highest and lowest percentage of components in the Balance Sheet? (2 Mark)

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