ABC COMPANY BALANCE SHEET At December 31, 20X2 and December 31, 20X1 20X2 20x1 Dollar Change % Change S Assets Current Assets Cash and cash equivalents Trading Securities Accounts receivable Allowance for doubtful accounts Accounts receivable, net Inventories Prepaid expenses and other receivables Available-for-sale securities Total current assets 182,225 48,000 28,000 (5,000) 23,000 2,450 200 17,750 273,625 143,010 39,600 19,500 (2.900) 16,600 3,600 750 14,005 217,565 S Property, plant and equipment, net Intangible Assets Total assets 304,550 300 578,475 299,050 300 516,915 $ Liabilities and Shareholders' Equity Current Liabilities Salaries Payable FICA-Social Security Taxes Payable FICA-Medicare Taxes Payable Employee Federal Income Taxes Payable State Unemployment Taxes Payable Federal Unemployment Taxes Payable Notes payable or current portion of long-term debt Accounts payable Total current liabilities 85,000 10,540 2,465 8,500 756 84 24,000 14,030 145,375 61,950 7,682 1,797 6,000 540 60 24,000 17,050 119,079 S Long-term debt Total liabilities 104,400 249,775 128,400 247,479 S Shareholders' equity Common stock, 510 per value; 50,000 shares authorized: 20,000 shares issued and outstandin Retained earnings 200,000 128,700 200,000 69,436 Total shareholders' equity Total liabilities and shareholders' equity 328,700 578,475 269,436 516,915 S Part 4: Throughout the project, you have been asked a number of questions relating to the Balance Sheet of ABC Company. Using the Balance Sheet found below, perform a horizontal analysis. Once complete, use your new version of the Balance Sheet to present and discuss the Balance Sheet of ABC Company using voice-over PowerPoint. Based on the inferences you make from your horizontal analysis, discuss any improvements and/or changes that may have occurred since the prior year. Consider addressing the items that the Board of Directors requested information on throughout the project: (1) Accounts Receivables and the process for uncollectible accounts: (2) Payroll Liabilities as well as other Current or Long-Term liabilities; and (3) the types of investments held by ABC Company. Keep in mind the intended audience of your presentation. ABC Company Balance Sheet.xls