Comparative data (in thousands) from the balance sheet of Sheridan Ltd. are shown below. Cash Accounts receivable Inventory Prepaid expenses Total current assets 2024 $22 280 500 20 2023 $39 244 485 0 2022 $26 217 405 10 2021 $16 170 331 20 $822 $768 $658 $537 Using horizontal analysis, calculate the percent of base year, assuming 2021 is the base year. (R

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Comparative data (in thousands) from the balance sheet of Sheridan Ltd. are shown below.
Cash
Accounts receivable
Inventory
Prepaid expenses
Total current assets
2024
$22
280
500
20
2023
$39
244
485
0
2022
$26
217
405
10
$822 $768 $658
2021
$16
170
331
20
$537
Using horizontal analysis, calculate the percent of base year, assuming 2021 is the base year. (Round answers to 0 deci
Transcribed Image Text:Comparative data (in thousands) from the balance sheet of Sheridan Ltd. are shown below. Cash Accounts receivable Inventory Prepaid expenses Total current assets 2024 $22 280 500 20 2023 $39 244 485 0 2022 $26 217 405 10 $822 $768 $658 2021 $16 170 331 20 $537 Using horizontal analysis, calculate the percent of base year, assuming 2021 is the base year. (Round answers to 0 deci
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