From the comparative balance sheet of Lord Corporation in Figure 22.6:

(a) Prepare a horizontal analysis of each item for the amount of increase or decrease as well as the percent increase or decrease (to the nearest tenth of a percent);

(b) Vertically analyze the 2016 column of the balance sheet (to the nearest tenth of a percent).

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LORD CORPORATION COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2016, AND DECEMBER 31, 2015 December 31 Assets 2016 2015 Current Assets Cash Accounts Receivable, Net Merchandise Inventory Prepaid Expenses $430000 360o00 16 7000o 140000o 130000 $81980 00 $ 356 0000 26000o 5000 0 o 168000 Total Current Assets Plant and Equipment Office Equipment, Net $116000 00 $ 115 00000 19798000$150 6 00 oo Total Assets Liabilities Curre nt Liabilities: Notes Payable Accounts Payable $20 500 00 21 2 0 0 0o $41 700 00 22 00000 23 2000o 452 0000 Total Current Liabilities Long-Term Lia bilities: Mortgage Payable Total Liabilities 48 500 00 4250000 $ 9012|010100|| $ 87 기이0100 Stockholders' Equity Common Stock, $1 par Retained Earnings 49 500 00 2800000 3490000 107 780 00 $ 629 0000 197980 00 $ 15060000 58 2 8 00o Total Stockholders' Equity Total Liabilities and Stockholders' Equity