Match the following terms with their definitions.

1. Cost of merchandise sold

2. Current ratio

3. Retained earnings

4. Income statement

5. Long-term liabilities

6. Trend analysis

7. Net Purchases

8. Assets

9. Gross profit

10. Acid test

11. Accounts payable

12. Liabilities

13. Net income

14. Balance sheet

15. Horizontal analysis

16. Merchandise inventory

17. Current liabilities

18. Common size statement

19. Prepaid expense

20. Asset turnover

21. Vertical analysis

22. Current assets

23. Comparative statements

24. Accounts receivable

25. Net sales

___ A liability

___Inventory and prepaid expenses are subtracted

___What customers owe

___Cash, supplies

___net sales divided by total assets

___prepared as of a particular date

___Dollars not shown

___Data placed side by side

___Beginning inventory plus new purchases - ending inventory

___Includes no plant and equipment assets

___Obligations due within one year

___Current assets divided by current liabilities

___Sales - cost of goods gold

___Total this period is compared by amount of percent to same total period

___Revenues and expense for a specific period of time

___What we owe creditors

___Obligations that are not due for a least one year.

___Cost of goods for resale

___Profit

___True cost of purchase

___Actual sale after returns on discounts

___Paid in advance

___Part of stockholders' equity

___Uses a base year

___ Each liability and equity is analyzed as a percent of the total.