! Required information [The following information applies to the questions displayed below.] The balance sheets for...
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! Required information [The following information applies to the questions displayed below.] The balance sheets for Fantasy Football for 2024 and 2023 are provided below. 2. Prepare a horizontal analysis of Fantasy Football's 2024 balance sheet using 2023 as the base year. (Values to be deducted and decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) Assets Current assets: FANTASY FOOTBALL Balance Sheets December 31 Year Increase (Decrease) 2024 2023 Amount % Cash $ 92,400 $ 177,600 Accounts receivable 571,200 640,800 Inventory 1,545,600 890,400 Supplies 86,800 52,800 Long-term assets: Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock 772,800 (268,800) 772,800 (134,400) $ 2,800,000 $ 2,400,000 86,800 $ 76,800 0 2,400 67,200 67,200 571,200 571,200 511,200 511,200 1,563,600 1,171,200 Total liabilities and stockholders' equity $ 2,800,000 $ 2,400,000 Retained earnings ! Required information [The following information applies to the questions displayed below.] The balance sheets for Fantasy Football for 2024 and 2023 are provided below. 2. Prepare a horizontal analysis of Fantasy Football's 2024 balance sheet using 2023 as the base year. (Values to be deducted and decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) Assets Current assets: FANTASY FOOTBALL Balance Sheets December 31 Year Increase (Decrease) 2024 2023 Amount % Cash $ 92,400 $ 177,600 Accounts receivable 571,200 640,800 Inventory 1,545,600 890,400 Supplies 86,800 52,800 Long-term assets: Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock 772,800 (268,800) 772,800 (134,400) $ 2,800,000 $ 2,400,000 86,800 $ 76,800 0 2,400 67,200 67,200 571,200 571,200 511,200 511,200 1,563,600 1,171,200 Total liabilities and stockholders' equity $ 2,800,000 $ 2,400,000 Retained earnings
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