Instructions

Using horizontal analysis, show the percentage change from 2013 to 2014 with 2013 as the base year.

Exercise 1 Comparative information taken from the London Antiques Corporation nancial statements is shown below: 2014 2013 1. Notes receivable $ 80,000 $ -0- 2. Accounts receivable 182,000 140,000 3. Retained earnings 49,000 (40,000) 4 Sales 930,000 750,000 5. Operating expenses 170,000 200,000 6. Income taxes payable 95,000 70,000 Instructions Using horizontal analysis, show the percentage change from 2013 to 2014 with 2013 as the base year