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 %
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
A 42.
Subject:- accounting
Transcribed Image Text: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
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