Question: Horizontal analysis The comparative accounts payable and long-term debt balances for a company follow. Line Item Description Current Year Previous Year Accounts payable $64,688 $62,200

Horizontal analysis

The comparative accounts payable and long-term debt balances for a company follow.

Line Item Description	Current Year	Previous Year
Accounts payable	$64,688	$62,200
Long-term debt	28,560	40,800

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

Line Item Description	Amount of Change	Increase/Decrease	Percentage
Accounts payable	$fill in the blank 1	IncreaseDecreaseIncrease	fill in the blank 3 %
Long-term debt	$fill in the blank 4	IncreaseDecreaseIncrease	fill in the blank 6 %

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