**General Motors Financial Analysis Overview**General Motors announced a quarterly profit of $119 million for the 4th quarter of 2022. The table below presents a portion of the company's balance sheet, allowing for a horizontal analysis of certain line items.**Table: Horizontal Analysis of Select Balance Sheet Items**| Line Item | 2022 (dollars in millions) | 2021 (dollars in millions) | Difference | % CHG ||--------------------------------|----------------------------|----------------------------|------------|---------|| Cash and cash equivalents | $16,580 | $15,799 | | || Marketable securities | $9,522 | $16,748 | | || Inventories | $13,942 | $14,924 | | || Goodwill | $0 | $1,290 | | || Total liabilities and equity | $103,849 | $144,903 | | |**Instructions for Analysis:**- Conduct a horizontal analysis by calculating the "Difference" and "% CHG" (percent change) for each line item.- Indicate negative differences with a minus sign.- Round the "percent" answers to the nearest hundredth percent.This analysis will provide insights into financial changes over the period and help in evaluating General Motors' financial performance from 2021 to 2022.

The Horizontal analysis is utilized whenever the company's financial statements are required to be…

Assume General Motors announced a quarterly profit of $119 million for 4th quarter 2022. Below is a portion of its balance sheet. Conduct a horizontal analysis of the following line items. Note: Negative answers should be indicated by a minus sign. Round the "percent" answers to the nearest hundredth percent. Cash and cash equivalents Marketable securities Inventories Goodwill Total liabilities and equity 2022 (dollars in millions) $ $ 16,580 9,522 13,942 0 103,849 2021 (dollars in millions) $ $ 15,799 16,748 14,924 1,290 144,903 Difference % CHG

Assume General Motors announced a quarterly profit of $119 million for 4th quarter 2022. Below is a portion of its balance sheet. Conduct a horizontal analysis of the following line items. Note: Negative answers should be indicated by a minus sign. Round the "percent" answers to the nearest hundredth percent. Cash and cash equivalents Marketable securities Inventories Goodwill Total liabilities and equity 2022 (dollars in millions) $ $ 16,580 9,522 13,942 0 103,849 2021 (dollars in millions) $ $ 15,799 16,748 14,924 1,290 144,903 Difference % CHG

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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Assume General Motors announced a quarterly profit of $119 million for 4th quarter 2022. Below is a portion of its balance sheet. Conduct a horizontal analysis of the following line items. Note: Negative answers should be indicated by a minus sign. Round the "percent" answers to the nearest hundredth percent. Cash and cash equivalents Marketable securities Inventories Goodwill Total liabilities and equity 2022 (dollars in millions) $ $ 2021 (dollars in millions) 15,980 9,222 13,642 0 103,249 $ $ 15,499 16,148 14,324 1,278 144,603 Difference % Change
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