3. Practice Problem

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10 points #3 HORIZONTAL ANALYSIS INSTRUCTIONS: Prepare a horizontal analysis of the income statement using 2019 as a base. Neiman Corp. mparative Balance She the years ended Decembe 2020 2019 Assets Current Assets Plant Assets Total Assets 300 360 700 1,060 500 800 Liabilities & Stockholders' Equity Current liabilities Long-term debt Common stock Retained earnings Total liabilities & stockholders' equity 160 250 370 280 1,060 120 160 320 200 800 B C D 49 E G 10 points 50 51 #3 HORIZONTAL ANALYSIS 52 INSTRUCTIONS: Prepare a horizontal analysis of the income statement using 2019 as a base. 53 54 55 Neiman Corp. Comparative Balance Sheet For the years ended December 31 56 57 2020 2019 S8 S8 S 9 8 8 8 3 8 Assets 300 Current Assets Plant Assets Total Assets 360 700 1,060 500 800 Liabilities & Stockholders' Equity Current liabilities Long-term debt Common stock Retained earnings Total liabilities & stockholders' equity 160 250 370 120 160 320 200 800 280 1,060 Sheet1