Horizontal and Vertical Analysis

Plato Clothing Company specializes in selling apparel for special occasions. In $2022$ and $2023,$ Plato$$s account balances were as follows:

$20232022$

Accounts receivable $$60,000$ $$42,000$

Merchandise inventory $16,00019,000$

Total assets $345,000310,000$

Net sales $420,000385,000$

Cost of goods sold $135,000165,000$

Required:

$1.$ Calculate the change in each of the Plato$$s accounts from $2022$ to $2023.$

Answer rating: 100% (QA)

To calculate the change in each of Platos accounts from 2022 to 2023 ... View the full answer