**Current Attempt in Progress**Using these data from the comparative balance sheets of Ivanhoe Company, perform horizontal analysis. *(If amount and percentage are a decrease show the numbers as negative, e.g., -55,000, -20% or (55,000), (20%).)*| | December 31, 2022 | December 31, 2021 | Increase or (Decrease) || --- | --- | --- | --- || | | | Amount | Percentage || Accounts receivable (net) | $496,800 | $414,000 | $ | % || Inventory | 787,500 | 630,000 | $ | % || Total assets | 3,188,360 | 2,702,000 | $ | % |Graphs or Diagrams: There are no graphs or diagrams included in this image. The table provides financial data for horizontal analysis for Ivanhoe Company, comparing two consecutive years (2022 and 2021).**Note:**- For calculating the **Amount** of increase or decrease: subtract the 2021 value from the 2022 value.- For calculating the **Percentage** of increase or decrease: (Amount of increase or decrease / 2021 value) × 100. Indicate as negative if the value is a decrease.**Example Calculation:**Assume a line item from the balance sheet shows $600,000 in 2022 and $500,000 in 2021.- Amount: $600,000 - $500,000 = $100,000- Percentage: ($100,000 / $500,000) × 100 = 20%**Reference:**- eTextbook and Media

Current Attempt in Progress Using these data from the comparative balance sheets of Ivanhoe Company, perform horizontal analysis. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%).) Accounts receivable (net) Inventory Total assets e Textbook and Media December 31, 2022 $496,800 787,500 3,188,360 December 31, 2021 $414,000 SA VA 630,000 $ 2,702,000 $ SA Amount Increase or (Decrease) Percentage % % %

Current Attempt in Progress Using these data from the comparative balance sheets of Ivanhoe Company, perform horizontal analysis. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%).) Accounts receivable (net) Inventory Total assets e Textbook and Media December 31, 2022 $496,800 787,500 3,188,360 December 31, 2021 $414,000 SA VA 630,000 $ 2,702,000 $ SA Amount Increase or (Decrease) Percentage % % %

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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Perform the Reperformance or Recalculation procedures to check the mathematical accuracy ofthe Income Statement. What issue did you find? What is the next step? Create a Correctedversion of the Income Statement. Income Statement For the Year Ended For the Year Ended Revenue 3/31/2021 3/31/2022 Sales Revenue: Corporate Accounts $ 353,739.57 $ 343,050.56 Sales Revenues: Storefront $ 80,649.00 $ 91,411.50 Total Sales Revenue $ 434,388.57 $ 434,462.06 Cost of Goods Sold: Ingredients $ 69,736.39 $ 64,645.64 Cost of Goods Sold: Boxes and Cupcake Cups $ 3,875.55 $ 3,755.55 Cost of Goods Sold: Beverages $ 5,466.50 $ 5,681.50 Total COGS $ 76,078.44 $ 74,082.69 Gross Profit $ 358,310.13 $ 360,379.37 Interest Revenue $…
K Winky Flash Photo reported the following figures on its December 31, 2024, income statement and balance sheet: (Click the icon to view the figures.) Compute the asset turnover ratio for 2024. Round to two decimal places. Data table Net sales Cash Accounts Receivable Merchandise Inventory Prepaid Expenses Property, Plant, and Equipment, net Print + + 460,000 Dec. 31, 2024 Dec. 31, 2023 $ 33,000 $ 26,000 60,000 58,000 71,000 78,000 11,000 7,000 101,000 16,000 Done - = - X Asset turnover ratio
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