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Condensed data from the comparative statement of financial position of Vermillion Inc. follow: 2024 2023 2022 Current assets $120,000 $114,000 $104,000 Non-current assets 404,000 328,000 298,000 Current liabilities 111,000 100,000 95,000 Non-current liabilities 89,000 110,000 121,000 Common shares 109,000 100,000 100,000 Retained earnings 215,000 132,000 86,000 (a) Your answer is correct. Using horizontal analysis, calculate the percentage of a base-year amount, using 2022 as the base year. (Round answers to 1 decimal place, e.g. 15.2%.) (b) Current assets Non-current 2024 VERMILLION INC. Horizontal Analysis of Statement of Financial Position (% of base-year amount) 115.4 % 2023 109.6 % 2022 100.0 % assets 135.6 % 110.1 % 100.0 % Current 116.8 % 105.3 % 100.0 % liabilities Non-current 73.6 % 90.9 % 100.0 % liabilities Common 109.0 % 100.0 % 100.0 % shares Retained 250.0 % 153.5 % % earnings eTextbook and Media Attempts: 1 of 3 used Using horizontal analysis, calculate the percentage change for each year. (Round percentage to 1 decimal place, e.g. 15.2%. Enter negative amounts using either a negative sign preceding the number e.g. -45.1 or parentheses e.g. (45.1)%.) Assets Current assets Non-current assets Total assets Liabilities and Shareholders' Equity Liabilities Current liabilities $ Non-current liabilities Total liabilities Shareholders' equity Common shares Retained earnings Total shareholders' equity Total liabilities and shareholders' equity $ eTextbook and Media 2024 $ $ $ Horizon Increase (Decrease) Amount

Condensed data from the comparative statement of financial position of Vermillion Inc. follow: 2024 2023 2022 Current assets $120,000 $114,000 $104,000 Non-current assets 404,000 328,000 298,000 Current liabilities 111,000 100,000 95,000 Non-current liabilities 89,000 110,000 121,000 Common shares 109,000 100,000 100,000 Retained earnings 215,000 132,000 86,000 (a) Your answer is correct. Using horizontal analysis, calculate the percentage of a base-year amount, using 2022 as the base year. (Round answers to 1 decimal place, e.g. 15.2%.) (b) Current assets Non-current 2024 VERMILLION INC. Horizontal Analysis of Statement of Financial Position (% of base-year amount) 115.4 % 2023 109.6 % 2022 100.0 % assets 135.6 % 110.1 % 100.0 % Current 116.8 % 105.3 % 100.0 % liabilities Non-current 73.6 % 90.9 % 100.0 % liabilities Common 109.0 % 100.0 % 100.0 % shares Retained 250.0 % 153.5 % % earnings eTextbook and Media Attempts: 1 of 3 used Using horizontal analysis, calculate the percentage change for each year. (Round percentage to 1 decimal place, e.g. 15.2%. Enter negative amounts using either a negative sign preceding the number e.g. -45.1 or parentheses e.g. (45.1)%.) Assets Current assets Non-current assets Total assets Liabilities and Shareholders' Equity Liabilities Current liabilities $ Non-current liabilities Total liabilities Shareholders' equity Common shares Retained earnings Total shareholders' equity Total liabilities and shareholders' equity $ eTextbook and Media 2024 $ $ $ Horizon Increase (Decrease) Amount

FINANCIAL ACCOUNTING
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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Condensed data from the comparative statement of financial position of Vermillion Inc. follow: 2024 2023 2022 Current assets $120,000 $114,000 $104,000 Non-current assets 404,000 328,000 298,000 Current liabilities 111,000 100,000 95,000 Non-current liabilities 89,000 110,000 121,000 Common shares 109,000 100,000 100,000 Retained earnings 215,000 132,000 86,000 (a) Your answer is correct. Using horizontal analysis, calculate the percentage of a base-year amount, using 2022 as the base year. (Round answers to 1 decimal place, e.g. 15.2%.) (b) Current assets Non-current 2024 VERMILLION INC. Horizontal Analysis of Statement of Financial Position (% of base-year amount) 115.4 % 2023 109.6 % 2022 100.0 % assets 135.6 % 110.1 % 100.0 % Current 116.8 % 105.3 % 100.0 % liabilities Non-current 73.6 % 90.9 % 100.0 % liabilities Common 109.0 % 100.0 % 100.0 % shares Retained 250.0 % 153.5 % % earnings eTextbook and Media Attempts: 1 of 3 used Using horizontal analysis, calculate the percentage change for each year. (Round percentage to 1 decimal place, e.g. 15.2%. Enter negative amounts using either a negative sign preceding the number e.g. -45.1 or parentheses e.g. (45.1)%.) Assets Current assets Non-current assets Total assets Liabilities and Shareholders' Equity Liabilities Current liabilities $ Non-current liabilities Total liabilities Shareholders' equity Common shares Retained earnings Total shareholders' equity Total liabilities and shareholders' equity $ eTextbook and Media 2024 $ $ $ Horizon Increase (Decrease) Amount
Transcribed Image Text:Condensed data from the comparative statement of financial position of Vermillion Inc. follow: 2024 2023 2022 Current assets $120,000 $114,000 $104,000 Non-current assets 404,000 328,000 298,000 Current liabilities 111,000 100,000 95,000 Non-current liabilities 89,000 110,000 121,000 Common shares 109,000 100,000 100,000 Retained earnings 215,000 132,000 86,000 (a) Your answer is correct. Using horizontal analysis, calculate the percentage of a base-year amount, using 2022 as the base year. (Round answers to 1 decimal place, e.g. 15.2%.) (b) Current assets Non-current 2024 VERMILLION INC. Horizontal Analysis of Statement of Financial Position (% of base-year amount) 115.4 % 2023 109.6 % 2022 100.0 % assets 135.6 % 110.1 % 100.0 % Current 116.8 % 105.3 % 100.0 % liabilities Non-current 73.6 % 90.9 % 100.0 % liabilities Common 109.0 % 100.0 % 100.0 % shares Retained 250.0 % 153.5 % % earnings eTextbook and Media Attempts: 1 of 3 used Using horizontal analysis, calculate the percentage change for each year. (Round percentage to 1 decimal place, e.g. 15.2%. Enter negative amounts using either a negative sign preceding the number e.g. -45.1 or parentheses e.g. (45.1)%.) Assets Current assets Non-current assets Total assets Liabilities and Shareholders' Equity Liabilities Current liabilities $ Non-current liabilities Total liabilities Shareholders' equity Common shares Retained earnings Total shareholders' equity Total liabilities and shareholders' equity $ eTextbook and Media 2024 $ $ $ Horizon Increase (Decrease) Amount
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