2. Prepare a horizontal analysis of Sports Unlimited'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: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land 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 SPORTS UNLIMITED Balance Sheets For the Years Ended December 31 Year Retained earnings Total liabilities and stockholders' equity $ $ $ $ 2024 155,400 $ 59,400 66,600 13,200 70,200 146,400 142,200 (53,400) 600,000 $ 39,600 $ 6,600 16,800 201,600 231,000 104,400 600,000 $ 2023 109,450 41,800 108,350 6,600 16,500 172,700 141,900 (30,800) 566,500 52,250 3,300 14,300 174,900 231,000 90,750 566,500 Increase (Decrease) Amount %

2. Prepare a horizontal analysis of Sports Unlimited'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: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land 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 SPORTS UNLIMITED Balance Sheets For the Years Ended December 31 Year Retained earnings Total liabilities and stockholders' equity $ $ $ $ 2024 155,400 $ 59,400 66,600 13,200 70,200 146,400 142,200 (53,400) 600,000 $ 39,600 $ 6,600 16,800 201,600 231,000 104,400 600,000 $ 2023 109,450 41,800 108,350 6,600 16,500 172,700 141,900 (30,800) 566,500 52,250 3,300 14,300 174,900 231,000 90,750 566,500 Increase (Decrease) Amount %

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Subject: acounting
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