Prepare a horizontal analysis of both the balance sheet and income statement.Complete this question by entering your answers in the tabs below.Analysis BalSheetAnalysis IncStmtPrepare a horizontal analysis of the balance sheet. (Negative answers should be indicated by a minus sign. Round your answersto 1 decimal place. (i.e., .234 should be entered as 23.4).)THORNTON COMPANYHorizontal Analysis of Balance SheetsYear 4Year 3% ChangeAssetsCurrent assetsCash$17,200 $12,200%Marketable securities21,6006,800Accounts receivable (net)55,80046,600Inventories135,100143,000Prepaid items26,70011,700Total current assets256,400220,300Investments27,70021,700Plant (net)271,900256,700Land30,60025,800Total long-term assets330,200304,200Total assets$586,600 $524,500Liabilities and Stockholders' EquityLiabilitiesCurrent liabilitiesNotes payable$15,300 $4,900Accounts payable112,90098,300Salaries payable20,90013,300Total current liabilities149,100116,500Noncurrent liabilitiesBonds payable98,70098,700Other30,00025,200Total noncurrent liabilities128,700123,900Total liabilities277,800240,400Stockholders' equityPreferred stock (par value $10, 4% cumulative,nonparticipating; 6,500 shares authorized and issued)65,00065,000Common stock (no par; 50,000 shares authorized; 10,000shares issued)65,00065,000Retained earnings178,800154,100Total stockholders' equity308,800284,100Total liabilities & stockholders' equity$586,600 $524,500%< Analysis Bal SheetAnalysis Inc Stmt >

The horizontal analysis analyze the financial statements of the two given financial years.

Prepare a horizontal analysis of both the balance sheet and income statement. Complete this question by entering your answers in the tabs below. Analysis Bal Analysis Inc Sheet Stmt Prepare a horizontal analysis of the balance sheet. (Negative answers should be indicated by a minus sign. Round your answers to 1 decimal place. (i.e., .234 should be entered as 23.4).) THORNTON COMPANY Horizontal Analysis of Balance Sheets Year 4 Year 3 % Change Assets Current assets 12,200 6,800 46,600 143,000 11,700 220,300 21,700 256,700 25,800 304,200 524,500 Cash 17,200 $ % Marketable securities 21,600 55,800 135,100 26,700 256,400 27,700 Accounts receivable (net) Inventories Prepaid items Total current assets Investments Plant (net) 271,900 30,600 330,200 586,600 $ Land Total long-term assets Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities $ 15,300 $ 112,900 20,900 149,100 4,900 98,300 13,300 Notes payable Accounts payable Salaries payable Total current liabilities 116,500 Noncurrent liabilities 98,700 25,200 123,900 Bonds payable 98,700 Other 30,000 Total noncurrent liabilities 128,700 Total liahilities 277 800 240 400

Prepare a horizontal analysis of both the balance sheet and income statement. Complete this question by entering your answers in the tabs below. Analysis Bal Analysis Inc Sheet Stmt Prepare a horizontal analysis of the balance sheet. (Negative answers should be indicated by a minus sign. Round your answers to 1 decimal place. (i.e., .234 should be entered as 23.4).) THORNTON COMPANY Horizontal Analysis of Balance Sheets Year 4 Year 3 % Change Assets Current assets 12,200 6,800 46,600 143,000 11,700 220,300 21,700 256,700 25,800 304,200 524,500 Cash 17,200 $ % Marketable securities 21,600 55,800 135,100 26,700 256,400 27,700 Accounts receivable (net) Inventories Prepaid items Total current assets Investments Plant (net) 271,900 30,600 330,200 586,600 $ Land Total long-term assets Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities $ 15,300 $ 112,900 20,900 149,100 4,900 98,300 13,300 Notes payable Accounts payable Salaries payable Total current liabilities 116,500 Noncurrent liabilities 98,700 25,200 123,900 Bonds payable 98,700 Other 30,000 Total noncurrent liabilities 128,700 Total liahilities 277 800 240 400

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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