47

Perform a horizontal analysis for the balance sheet entry 'Total Current Liabilities' given above. (Round to nearest tenth.)

Use parentheses to indicate a decrease.

Liabilities and owner's Equity 2008 2007 ncrease/Decrease Amount Percent Current Liabilities Accounts Payable 10,600 9,200 3,400 Salaries Payable 4,300 Taxes Payable 3,300 4,500 Total Current Liabilities 18,200 17,100 Long-Term Liabilities Debenture Bond 17,000 15,800 Total Liabilities 35,200 32,900 Stockholders Equity Retained Earnings 15,000 9,600 Total Liabilities and Stockholders Equity $50,200 $52,500