Use the consolidated balance sheets which give historical data for a particular business.Chart attached (a): Prepare a horizontal analysis of the Current Assets section comparing February 2, 2013 and February 1, 2014. (Round percents to one decimal place.) CONSOLIDATED BALANCE SHEETS(in millions)ASSETSCurrent Assets:February 1, 2014 February 2, 2013Cash and Cash EquivalentsReceivables$2,373$1,826448381Merchandise Inventories5,7575,408Prepaid Expenses and Other Current Assets430351Total Current Assets9,0087,966Property and Equipment-NetGoodwill7,9303,7438,1963,743561Other Intangible Assets-NetOther Assets527746615Total Assets$21,634$20,991LIABILITIES AND SHAREHOLDERS' EQUITYCurrent Liabilities:February 1, 2014 February 2, 2013$473$1241,579Short-Term DebtMerchandise Accounts Payable1,7012,610355Accounts Payable and Accrued Liabilities2,910Income Taxes352Deferred Income Taxes300407Total Current Liabilities5,7365,075Long-Term DebtDeferred Income Taxes6,8061,2386,7281,273Other Liabilities1,6581,821Shareholders' Equity6,2496,051Total Liabilities and Sharcholders' Equity$21,634$20,991 (a) Prepare a horizantal analysis of the Current Assets section comparing February 2, 2013 and February 1, 2014. (Round percents to one decimal place.)Comparative Balance SheetFebruary 1, 2014 and February 2, 2013Increase (Decrease)(in s millions)20142013AmountPercentCurrent AssetsCash and Cash Equivalents%Receivables%Merchandise InventoriesPrepaid Expenses and Other Current AssetsTotal Current Assets%

(In $ million) 2014 2013 Difference Amount percent Current Assets Cash…

Answered: (a) Prepare a horiaontal analysis of…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Question

Use the consolidated balance sheets which give historical data for a particular business.

Chart attached

(a): Prepare a horizontal analysis of the Current Assets section comparing February 2, 2013 and February 1, 2014. (Round percents to one decimal place.)

CONSOLIDATED BALANCE SHEETS
(in millions)
ASSETS
Current Assets:
February 1, 2014 February 2, 2013
Cash and Cash Equivalents
Receivables
$2,373
$1,826
448
381
Merchandise Inventories
5,757
5,408
Prepaid Expenses and Other Current Assets
430
351
Total Current Assets
9,008
7,966
Property and Equipment-Net
Goodwill
7,930
3,743
8,196
3,743
561
Other Intangible Assets-Net
Other Assets
527
746
615
Total Assets
$21,634
$20,991
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities:
February 1, 2014 February 2, 2013
$473
$124
1,579
Short-Term Debt
Merchandise Accounts Payable
1,701
2,610
355
Accounts Payable and Accrued Liabilities
2,910
Income Taxes
352
Deferred Income Taxes
300
407
Total Current Liabilities
5,736
5,075
Long-Term Debt
Deferred Income Taxes
6,806
1,238
6,728
1,273
Other Liabilities
1,658
1,821
Shareholders' Equity
6,249
6,051
Total Liabilities and Sharcholders' Equity
$21,634
$20,991

(a) Prepare a horizantal analysis of the Current Assets section comparing February 2, 2013 and February 1, 2014. (Round percents to one decimal place.)
Comparative Balance Sheet
February 1, 2014 and February 2, 2013
Increase (Decrease)
(in s millions)
2014
2013
Amount
Percent
Current Assets
Cash and Cash Equivalents
%
Receivables
%
Merchandise Inventories
Prepaid Expenses and Other Current Assets
Total Current Assets
%

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

Expert Solution

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions