(a) Prepare a horizontal analysis of each item for the amount of increase or decrease as well as the percent increase or decrease (to the nearest tenth of a percent).
(b) Vertically analyze the 2020 column of the balance sheet (to the nearest tenth of a percent).
Balance Sheet Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...Corporation A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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SALMON CORPORATION COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020, AND DECEMBER 31, 2019 December 31 Assets 2020 2019 Current Assets: S 430000 s 340000 15 9 0000 1200000 124 000 Cash Accounts Receivable, Net 30 00000 Merchandise Inventory 50 000 00 Prepaid Expenses 156000 Total Current Assets $ 85 8 6000$ 32 54000 Plant and Equipment: $ 119 000 00 S 11200000 $ 204 8 6 0 00 S 144 5 4000 Office Equipment, Net Total Assets Liabilities Current Liabilities: Notes Payable Accounts Payable $ 19900 00 $ 23 00000 23 6 0000 S 41 000 00 s 46 60 000 21 10000 Total Current Liabilities Long-Term Liabilities: S 49 00000 $ 4050000 $ 90 000 00 s 8710000 Mortgage Payable Total Liabilities Stockholders' Equity Common Stock, $1 par $ 47 500 00 $ 27 00 000 Retained Earnings 67 36000 30 44 000 Total Stockholders' Equity $ 114 8 6 0 00 $ 5744 000 Total Liabilities and Stockholders' Equity S 204 8 60 00 S 144 5 4 000
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