Question: Horizontal Analysis The comparative accounts payable and long-term debt balances of a company are provided below. Current Year Previous Year Accounts payable $71,110 $54,700 Long-term

Horizontal Analysis

The comparative accounts payable and long-term debt balances of a company are provided below.

	Current Year	Previous Year
Accounts payable	$71,110	$54,700
Long-term debt	59,800	65,000

Based on this information, what is the amount and percentage of increase or decrease that would be shown in a balance sheet with horizontal analysis? Enter all answers as positive numbers.

	Amount of Change	Increase/Decrease	Percentage
Accounts payable	$	Increase	%
Long-term debt	$	Decrease	%

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