3. On December 31, 2022, Madison Company had the following balances in selected asset accounts: Cash Accounts receivable, net Inventory Prepaid expenses Long-term assets Total assets Cash Accounts Inventory Prepaid expenses Long-term assets Total assets Madison Current Year 300 1,200 500 100 400 2,500 a. Conduct a horizontal and vertical analysis on each of the assets using the template provided. To conduct the industry horizontal analysis, compare Madison current year to industry current year. 300 1,200 500 100 400 2,500 Madison Madison Madison Madison Current Prior Horizontal Vertical Year Analysis Year Analysis 450 850 700 Madison Industry Prior Current Year Year 60 550 2,610 450 850 700 60 550 2,610 650 1,100 400 150 600 2,900 Industry Industry Industry Current Horizontal Vertical Year Analysis Analysis 650 1,100 400 150 600 2,900 b. Discuss the differences in Madison's current year inventory balance to prior year and industry inventory balances. What is one reason for the differences in inventory balance? c. Calculate Madison's current ratio for this year, the previous year, and industry assuming current liabilities total $1,000, $1,500, and $2,500, respectively. How does Madison's liquidity position appear?

On December 31, 2022, Madison Company had the following balances in selected asset accounts: a. Conduct a horizontal and vertical analysis on each of the assets using the template provided. To conduct the industry horizontal analysis, compare Madison current year to industry current year. b. Discuss the differences in Madison's current year inventory balance to prior year and industry inventory balances. What is one reason for the differences in inventory balance? c. Calculate Madison's current ratio for this year, the previous year, and industry assuming current liabilities total $1,000,$1,500, and $2,500, respectively. How does Madison's liquidity position appear