Question: Please show work . Thanks! P24-4 (Horizontal and vertical Analysis) Presented below is the comparative balance sheet for Gilmour Company. GILMOUR COMPANY COMPARATIVE BALANCE SHEET

Please show work . Thanks!
P24-4 (Horizontal and vertical Analysis) Presented below is the comparative balance sheet for Gilmour Company. GILMOUR COMPANY COMPARATIVE BALANCE SHEET As OF DECEMBER 31, 2015 AND 2014 December 31 2015 2014 Assets 180,000 275,000 Cash 220,000 Accounts receivable (net) 155,000 Short-term investments 270,000 150,000 1,060,000 980,000 Inventories 25,000 Prepaid expenses 25,000 Plant & equipment 2,585,000 1,950,000 (1,000,000) (750,000) Accumulated depreciation $2,785,000 $3,340,000 Liabilities and Stockholders' Equity 50,000 75,000 Accounts payable 200,000 Accrued expenses 170,000 Bonds payable 450,000 190,000 Capital stock 2,100,000 1,770,000 Retained earnings 550,000 570,000 $3,340,000 $2,785,000 Instructions (Round to two decimal places.) (a) Prepare a comparative balance sheet of Gilmour Company showing the percent each item is of the total assets or total liabilities and stockholders' equity. (b) Prepare a comparative balance sheet of Gilmour Company showing the dollar change and the percent change for each item. (c) of what value is the additional information provided in part (a)? (d) Of what value is the additional information provided in part (b)
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
