Comparitive Balance Sheet

December 31, 2021 & 2020

Discuss the highlighted variances.

Increase (Decrease) (2021 over 2020) Dollars Percentage 2021 2020 ($11,000) 200,000 51,630 4,210 780 245,620 $13,900 35,000 48,753 4,120 650 102,423 ASSETS Current Assets: Cash In Bank Accounts Receivable Merchandise Inventory Store Supplies Prepaid Insurance Total Current Assets Investments: A-Z Technologies, Inc. (stock) Property, Plant & Equipment: Equipment (net) Building (net) Land Total Property, Plant & Equipment Total Assets 25,000 11,000 31,000 110,000 15,000 156,000 426,620 S 29,000 115,000 15,000 159,000 272,423 S $4,000 49.000 1,765 54,765 9,000 42.900 1,345 53,245 LIABILITIES Current Liabilities: Notes Payable Accounts Payable Sales Tax Payable Total Current Liabilities Long-Term Liabilities: Mortgage Payable Total Liabilities STOCK HOLDERS EQUITY Common Stock, S90 par. 4.000 shares authorized, 800 issued Retained earnings Total Stockholders' Equity Total Liabilities & Stockholders Equity 27,000 81.765 33,000 86,245 $72,000 72.000 272,855 344,855 426,620 S 114,178 186,178 272,423 S Calculate The following ratio to 2 decimals 2020 2021 Industry Average 1) Current Ratio 3.00 Comment briefly on your findings