Problem 9-A 9 (c)

Balance sheet (Horizontal) report with a run date of 12/31/-. Provide a narrative analysis of this report

Casey Corporation
Balance Sheet Horizontal Analysis
For Years Ended 12/31/17 and 12/31/18
	Current	Previous
	Period	Period	Change	Percent
Assets
Cash	123,751.43	67,534.52	56,216.91	83.24
Notes Receivable	14,959.00	15,091.00	-132	-0.87
Interest Receivable	307.5	335	-27.5	-8.21
Accounts Receivable	159,250.00	59,650.00	99,600.00	166.97
Merchandise Inventory	9,371.00	77,933.00	-68,562.00	-87.98
Store Supplies	2,815.00	1,520.00	1,295.00	85.2
Office Supplies	1,505.00	1,835.50	-330.5	-18.01
Prepaid Insurance	1,218.00	3,063.00	-1,845.00	-60.24
	-------------	-------------	-------------	----------
Total Current Assets	313,176.93	226,962.02	86,214.91	37.99
Land	94,500.00	94,500.00
Building	286,500.00	286,500.00
Accum. Depr. Building	-57,479.00	-38,479.00	-19,000.00	49.38
Office Equipment	14,245.00	11,145.00	3,100.00	27.82
Accum. Depr. Office Eqpt.	-5,607.00	-3,587.00	-2,020.00	56.31
Store Equipment	27,550.00	31,200.00	-3,650.00	-11.7
Accum. Depr. Store Eqpt.	-12,524.00	-8,904.00	-3,620.00	40.66
	-------------	-------------	-------------	----------
Total Plant Assets	347,185.00	372,375.00	-25,190.00	-6.76
	-------------	-------------	-------------	----------
Total Assets	660,361.93	599,337.02	61,024.91	10.18
	=============	=============	=============	==========
Liabilities
Interest Payable	1,755.00	1,325.00	430	32.45
Accounts Payable	110,401.00	97,111.00	13,290.00	13.69
Salaries Payable	1,898.00	1,454.00	444	30.54
Notes Payable	5,190.00	4,950.00	240	4.85
	-------------	-------------	-------------	----------
Current Liabilities	119,244.00	104,840.00	14,404.00	13.74
Mortgage Note Payable	157,101.04	161,391.24	-4,290.20	-2.66
	-------------	-------------	-------------	----------
Long-Term Liabilities	157,101.04	161,391.24	-4,290.20	-2.66
	-------------	-------------	-------------	----------
Total Liabilities	276,345.04	266,231.24	10,113.80	3.8
Stockholders' Equity
Capital Stock	150,000.00	150,000.00
Retained Earnings	183,105.78	133,640.44	49,465.34	37.01
Dividends	-20,000.00	-20,000.00
Net Income	70,911.11	69,465.34	1,445.77	2.08
	-------------	-------------	-------------	----------
Total Stockholders' Equity	384,016.89	333,105.78	50,911.11	15.28
	-------------	-------------	-------------	----------
Total Liabilities & Equity	660,361.93	599,337.02	61,024.91	10.18
	=============	=============	=============	==========