Perform a horizontal analysis on the balance sheets for $2023$ and $2024.$

$($Always use cell references and formulas where appropriate to receive full credit. If you copy$/$paste from the Instructions tab you will be marked wrong. All values should be added as positive numbers.$)$

RIVERSIDE SWEETS

Balance Sheet

June $30,2023$ and $2024$

Increase $($Decrease$)$

$20242023$ Amount Percentage

Assets

Current Assets:

Cash $$125,000$ $$119,000$

Short$-$term Investments $685,000650,000$

Accounts Receivable $225,000198,000$

Merchandise Inventory $65,00070,000$

Other Current Assets $195,000191,000$

Total Current Assets $1,295,0001,228,000$

Property, Plant, and Equipment $875,000832,000$

Total Assets $$2,170,000$ $$2,060,000$

Liabilities

Current Liabilities:

Accounts Payable $$265,000$ $$251,750$

Accrued Liabilities $641,000725,523$

Total Current Liabilities $906,000977,273$

Long$-$term Liabilities

Bonds Payable $250,000150,000$

Mortgage Payable $150,000175,000$

Total Long$-$term Liabilities $400,000325,000$

Total Liabilities $1,306,0001,302,273$

Stockholders' Equity

Common Stock, $$1$ par, $225,000$ shares issued and outstanding $225,000225,000$

Paid$-$In Capital in Excess of Par $58,00058,000$

Retained Earnings $581,000474,727$

Total Stockholders' Equity $864,000757,727$

Total Liabilities and Stockholders' Equity $$2,170,000$ $$2,060,000$