(Horizontal and Vertical Analysis) Presented below are comparative balance sheets for the Gilmour Company. GILMOURCOMPANY Comparative Balance Sheet As of December 31, 2011 and 2010 December 31 2011 2010 Assets Cash $180,000 $275,000 Accounts receivable (net) 220,000 155,000 Short-term investments 270,000 150,000 Inventories 1,060,000 980,000 Prepaid expense 25,000 25,000 Fixed assets 2,585,000 1,950,000 Accumulated depreciation (1,000,000) (750,000) $3,340,000 $2,785,000 Liabilities and Stockholders' Equity Accounts payable $50,000 $75,000 Accrued expenses 170,000 200,000 Bonds payable 450,000 190,000 Capital stock 2,100,000 1,770,000 Retained earnings 570,000 550,000 $3,340,000 $2,785,000 Instructions Complete the comparative balance sheet of Gilmour Company showing the percent each item is of the total assets or total liabilities and stockholders' equity.(Round percentages to two decimal places eg 5.89) GILMOUR COMPANY Comparative Balance Sheet As of December 31, 2011 and 2010 December 2011 % 2010 % Assets Cash $180,000 $275,000 Accounts receivable (net) 220,000 155,000 Short-term investments 270,000 150,000 Inventories 1,060,000 980,000 Prepaid expense 25,000 25,000 Fixed assets 2,585,000 1,950,000 Accumulated depreciatio(1,000,000) (750,000$3,340,000 $2,785,000 Liabilities and Stockholders' Equity Accounts payable $50,000 $75,000 Accrued expenses 170,000 200,000 Bonds payable 450,000 190,000 Capital stock 2,100,000 1,770,000 Retained earnings 570,000 550,000 $3,340,000 $2,785,000 Complete the comparative balance sheet of Gilmour Company showing the dollar change and the percent change for each item. (Round percentages to two decimal places eg 5.89. If answer is zero, please enter 0. Do not leave any fields blank. If $ or % change are a decrease put amounts in parenthesis eg (15,000) (5.98).) GILMOUR COMPANY Comparative Balance Sheet As of December 31, 2011 and 2010 December 31 Increase or (Decrease) Assets 2011 2010 $ Change % Change Cash $180,000 $275,000 $ Accounts receivable (net) 220,000 155,000 Short-term investments 270,000 150,000 Inventories 1,060,000 980,000 Prepaid expense 25,000 25,000 Fixed assets 2,585,000 1,950,000 Accumulated depreciation (1,000,000) (750,000) $3,340,000 $2,785,000 Liabilities and Stockholders' Equity 2011 2010 % Accounts payable $50,000 $75,000 Accrued expenses 170,000 200,000 Bonds payable 450,000 190,000 Capital stock 2,100,000 1,770,000 Retained earnings 570,000 550,000 3,340,000 $2,785,000