1 EBOOK SHOW ME HOW Calculator Horizontal Analysis The comparative accounts payable and long-term debt balances of a company are provided below. Current Previous Year Year Accounts $60,144 $71,600 payable Long-term 82,096 73,300 debt Based on this information, what is the amount and percentage of increase or decrease that would be shown in a balance sheet with horizontal analysis? Enter all answers as positive numbers. Amount of Increase/Decrease Percentage Change Decrease % Accounts payable Long-term debt $ Increase v % Feedback Check My Work Calculate the change in the amount and divide by the base (older) year amount to determine the horizontal analysis percentages. Learning Objective 2. Vertical Analysis Income statement information for Einsworth Corporation follows: Sales $485,000 Cost of goods sold 140,650 Gross profit 344,350 Prepare a vertical analysis of the income statement for Einsworth Corporation. If required, round percentage answers to the nearest whole number. Einsworth Corporation Vertical Analysis of the Income Statement Amount Percentage Sales $485,000 % Cost of goods sold 140,650 Gross profit $344,350