Question: The following comparative current asset information has been extracted from a balance sheet for two successive years. Complete a horizontal analysis for years 0007 too

The following comparative current asset information has been extracted from a balance sheet for two successive years. Complete a horizontal analysis for years 0007 too 0008 and a vertical common-sized analysis for year 0008. show the increase (+) or decrease (-) in dollars and the percentage of changes in the horizontal analysis

current assets year 0007 year 0008
cash $10,000 $12,000
credit card 1,000 1,500
accounts receivable 800 880
food inventory 11,200 7,840
prepaid expenses 3,300 4,620
total current assets $26,300 26,840

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