In 2010, Borden Formal Wear Inc. paid $100 million in dividends. Here are the comparative balance sheets for the latest two years.

Required:
(a) Prepare a horizontal and vertical analysis on the balance sheet.
(b) How did the business do in 2010?

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Borden Formal Wear Inc. Balance Sheets as at December 31 (in $ millions) 2010 (in $ millions) 2009 Current assets Cash Accounts receivable Inventory Total current assets Property, plant, and equipment Land Buildings (net) Equipment (net) Total property, plant, and equipment 10 12 13 65 90 25 50 250 100 40 250 Total assets 445 468 Current liabilities Accounts payable Long-term liabilities Bank loans Total liabilities Shareholders' equity Common shares Retained earnings otal shareholders' equity 28 23 75 103 124 342 445 83 124 385 468 Total liabilities and shareholders equity