2. Prepare a horizontal analysis of Fantasy Football's 2024 balance sheet using 2023 as the base...

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2. Prepare a horizontal analysis of Fantasy Football's 2024 balance sheet using 2023 as the base year. (Values to be deducted and decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) December 31 Year 2024 Increase (Decrease) 2023 Amount Assets Current assets: Cash Accounts receivable Inventory $ 230,400 $ 334,400 998,400 2,524,800 1,245,200 1,500,400 148,800 132,000 Supplies Long-term assets: Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: 1,478,400 1,478,400 (580,800) (290,400) $ 4,800,000 $ 4,400,000 Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity $ 196,800 $ 149,600 0 4,400 105,600 105,600 1,108,800 1,108,800 915,200 915,200 2,473,600 2,116,400 $ 4,800,000 $4,400,000 2. Prepare a horizontal analysis of Fantasy Football's 2024 balance sheet using 2023 as the base year. (Values to be deducted and decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) December 31 Year 2024 Increase (Decrease) 2023 Amount Assets Current assets: Cash Accounts receivable Inventory $ 230,400 $ 334,400 998,400 2,524,800 1,245,200 1,500,400 148,800 132,000 Supplies Long-term assets: Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: 1,478,400 1,478,400 (580,800) (290,400) $ 4,800,000 $ 4,400,000 Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity $ 196,800 $ 149,600 0 4,400 105,600 105,600 1,108,800 1,108,800 915,200 915,200 2,473,600 2,116,400 $ 4,800,000 $4,400,000

Answer rating: 100% (QA)

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