The following balance sheet items are available from Carnell Inc
The following balance sheet items are available from Carnell Inc. as of December 31, 2012:
Required
a. Prepare a comparative, classified balance sheet for Carnell Inc.
b. Perform horizontal and vertical analyses and interpret the results. Round percentages to one decimal point (i.e., 10.1%).
c. Assume the same information above except that in 2012, Bonds payable is $0 while Retained earnings is $271,295. Does this new information change any interpretations previously made?
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