The balance sheet data of Randolph Company for two recent years appears below. Using horizontal analysis, show the dollar amount and percentage change for each balance sheet item using Year 1 as a base year. Assets:Year 2Year 1Current assets$ 440$280Plant assets 675 520Total assets$1,115$800 Liabilities and stockholders' equity: Current liabilities $ 280$120Long-term debt250160Common stock325320Retained earnings 260 200Total liabilities and stockholders' equity$1,115$800

Horizontal analysis is one of the financial statement analysis under which each item is compared…

Answered: The balance sheet data of Randolph…

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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The balance sheet data of Randolph Company for two recent years appears below. Using horizontal analysis, show the dollar amount and percentage change for each balance sheet item using Year 1 as a base year.

Assets:	Year 2	Year 1
Current assets	$ 440	$280
Plant assets	675	520
Total assets	$1,115	$800

Liabilities and stockholders' equity:
Current liabilities	$ 280	$120
Long-term debt	250	160
Common stock	325	320
Retained earnings	260	200
Total liabilities and stockholders' equity	$1,115	$800

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