1.Use the following information to answer the five questions in the quiz: Comparative information taken from the Carson Company financial statement is shown below:

	2016__	2015__
Notes receivable	$ 10,000	$ -0-
Accounts receivable	175,000	140,000
Retained earnings	30,000	(40,000)
Sales	840,000	750,000
Operating expenses	160,000	200,000
Income taxes payable	28,000	20,000

Using horizontal analysis, what is the percentage change from 2015 to 2016 with 2015 as the base year for Notes Receivable? (Points : 3)

100% increase 0% increase 0% increase Not possible to compute

Question 2.2.Use the following information to answer the five questions in the quiz: Comparative information taken from the Carson Company financial statement is shown below:

	2016__	2015__
Notes receivable	$ 10,000	$ -0-
Accounts receivable	175,000	140,000
Retained earnings	30,000	(40,000)
Sales	840,000	750,000
Operating expenses	160,000	200,000
Income taxes payable	28,000	20,000

Using horizontal analysis, what is the percentage change from 2015 to 2016 with 2015 as the base year for Accounts Receivable? (Points : 3)

80% increase 25% decrease 25% increase Not possible to compute

Question 3.3.Use the following information to answer the five questions in the quiz: Comparative information taken from the Carson Company financial statement is shown below:

	2016__	2015__
Notes receivable	$10,000	$ -0-
Accounts receivable	175,000	140,000
Retained earnings	30,000	(40,000)
Sales	840,000	750,000
Operating expenses	160,000	200,000
Income taxes payable	28,000	20,000

Using horizontal analysis, what is the percentage change from 2015 to 2016 with 2015 as the base year for Operating Expenses? (Points : 3)

20% decrease 80% increase 80% decrease Not possible to compute

Question 4.4.Use the following information to answer the five questions in the quiz: Comparative information taken from the Carson Company financial statement is shown below:

	2016__	2015__
Notes receivable	$10,000	$ -0-
Accounts receivable	175,000	140,000
Retained earnings	30,000	(40,000)
Sales	840,000	750,000
Operating expenses	160,000	200,000
Income taxes payable	28,000	20,000

Using horizontal analysis, what is the percentage change from 2015 to 2016 with 2015 as the base year for Income Taxes Payable? (Points : 3)

40% decrease 40% increase 14% increase Not possible to compute

Question 5.5.Use the following information to answer the five questions in the quiz: Comparative information taken from the Carson Company financial statement is shown below:

	2016__	2015__
Notes receivable	$10,000	$ -0-
Accounts receivable	175,000	140,000
Retained earnings	30,000	(40,000)
Sales	840,000	750,000
Operating expenses	160,000	200,000
Income taxes payable	28,000	20,000

Using horizontal analysis, what is the percentage change from 2015 to 2016 with 2015 as the base year for Sales? (Points : 3)

89.3% increase 12% increase 12% decrease Not possible to compute