10. The balance sheet data of Randolph Company for two recent years appears below: Assets: Current assets Plant assets Total assets Liabilities and stockholders' equity: Current liabilities Long-term debt Common stock Retained earnings Total liabilities and stockholders' equity Year 2 $440 675 $1.115 $280 250 325 260 $1.115 Year 1 $280 520 $800 $120 160 320 200 $800 a. Using horizontal analysis, show the percentage change for each balance sheet item using Year 1 as a base year. b. Using vertical analysis, prepare a comparative balance sheet. Round percentages to one decimal place.
10. The balance sheet data of Randolph Company for two recent years appears below: Assets: Current assets Plant assets Total assets Liabilities and stockholders' equity: Current liabilities Long-term debt Common stock Retained earnings Total liabilities and stockholders' equity Year 2 $440 675 $1.115 $280 250 325 260 $1.115 Year 1 $280 520 $800 $120 160 320 200 $800 a. Using horizontal analysis, show the percentage change for each balance sheet item using Year 1 as a base year. b. Using vertical analysis, prepare a comparative balance sheet. Round percentages to one decimal place.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:10. The balance sheet data of Randolph Company for two recent years appears below:
Assets:
Current assets
Plant assets
Total assets
Liabilities and stockholders' equity:
Current liabilities
Long-term debt
Common stock
Retained earnings
Total liabilities and stockholders' equity
Year 2
$440
675
$1.115
$280
250
325
260
$1.115
Year 1
$280
520
$800
$120
160
320
200
$800
a. Using horizontal analysis, show the percentage change for each balance sheet item
using Year 1 as a base year.
b.
Using vertical analysis, prepare a comparative balance sheet.
Round percentages to one decimal place.
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