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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 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

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
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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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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