Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. Complete the two final columns shown beside each item in Pinnacle Plus's comparative financial statements 2-a. Which account increased by the largest dollar amount?

image text in transcribed

1. Complete the two final columns shown beside each item in Pinnacle Plus's comparative financial statements 2-a. Which account increased by the largest dollar amount? 2-b. Which account increased by the largest percentage? Complete this question by entering your answers in the tabs below Req 1 Req 2A Req 2B Complete the two final columns shown beside each item in Pinnacle Plus's comparative financial statements. (Decreases should be indicated by a minus sign. Round percentage values to 1 decimal place.) PINNACLE PLUS Horizontal Analysis Increase (Decrease) in the Current year (versus Previous year) Current Year Previous Year Amount Percentage Income Statement Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Interest Expense Income before Income Tax Expense Income Tax Expense (30%) Net Income Balance Sheet Cash Accounts Receivable, Net Inventory Property and Equipment, Net Total Assets Accounts Payable Income lax Payable Note Payable (long-term) Total Liabilities Common Stock (par $10) Retained Earnings Total Liabilities and Stockholders' Equity $ 120,000$ 106,000 49,000 57,000 35,500 5,000 16,500 4,950 11,550 54,000 66,000 41,000 5,000 20,000 6,000 14,000 $ $ 77,900$43,000 10,000 40,000 110,000 $218,900$ 203,000 $ 44,000 36,000 1,500 50,000 87,500 87,000 28,500 $ 218,900$ 203,000 19,000 26,000 96,000 3,000 50,000 97,000 87,000 34,900 Req Req 2A >

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions