Question: Horizontal Analysis The comparative accounts payable and long-term debt balances for a company follow. Current Year Previous Year Accounts payable $31,540 $38,000 Long-term debt 43,050

Horizontal Analysis

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

	Current Year	Previous Year
Accounts payable	$31,540	$38,000
Long-term debt	43,050	35,000

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.

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

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