! Required information Use the following information for the Quick Studies below. (Static) [The following information applies to the questions displayed below.] Current Year Prior Year Cash $ 7,440 $ 8,000 Accounts receivable 54,000 18,000 Equipment, net 44,000 40,000 Land Total assets 91,680 66,000 $ 197,120 $ 132,000 Saved QS 13-5 (Static) Horizontal analysis LO P1 Compute the annual dollar changes and percent changes for each of the following items. Note: Decreases should be entered with a minus sign. Round your percentage answers to one decimal place. Horizontal Analysis - Calculation of Percent Chang Denominator: Numerator: Percent change = Current year amount minus base year amount Current Year Base year amount Prior Year Dollar Change Percent Change Cash $ Accounts receivable Equipment, net 7,440 $ 8,000 $ 560 % 54,000 18,000 % 44,000 40,000 % 91,680 66,000 % Land Total assets $ 197,120 $ 132,000 %