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2. Prepare a horizontal analysis of Sports Unlimited's 2018 balance sheet using 2017 as the base year. (Negative amounts and Decreases should be indicated by
2. Prepare a horizontal analysis of Sports Unlimited's 2018 balance sheet using 2017 as the base year. (Negative amounts and Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) SPORTS UNLIMITED Balance Sheets Year Increase (Decrease) Amount 2018 2017 Current assets: $211,500 140,800 50,400 154,400 14,400 Cash 99,900 82,800 28,800 Accounts receivable Prepaid rent Long-term assets: Investment in bonds 108,900 238,500 206,100 (76,500) $ 900,000$ 800,000 280,000 202,400 (42,400) Equipment Less: Accumulated depreciation Total a ssets Liabilities and Stockholders' Equity Current liabilities Accounts payable Interest payable Income tax payable $ 75,600 88,800 14,400 16,000 28,800 21,600 Long-term liabilit Notes payable 243,900 234,400 Stockholders' equity 288,000 242,100 $ 900,000 288,000 158,400 800,000 Common stock Retained earnings Total liabilities and stockholders' equity
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