Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Prepare a horizontal analysis of both the balance sheet and income statement. Complete this question by entering your answers in the tabs below. Analysis
Prepare a horizontal analysis of both the balance sheet and income statement. Complete this question by entering your answers in the tabs below. Analysis Bal Analysis Inc Sheet Stmt Prepare a horizontal analysis of the balance sheet. (Negative answers should be indicated by a minus sign. Round your answers to 1 decimal place. (i.e., .234 should be entered as 23.4).) Assets Current assets GIBSON COMPANY Horizontal Analysis of Balance Sheets Year 4 Year 3 % Change Cash Marketable securities: Accounts receivable (net) Inventories Prepaid items $ 16,700 $ 13,800 % 21,100 -6,500 55,800 48,000 135,800 144,200 25,100 11,600 Total current assets 254,500- 224,100 Investments 28,700 20,400 Plant (net) 271,000 255,800 Land 29,500 25,800 Total long-term assets 329,200 302,000 Total assets $ 583,700 $ 526,100 Liabilities and Stockholders' Equity Liabilities Current liabilities Notes payable Accounts payable Salaries payable $ 15,800 $ 4,300 113,400 99,200 20,800 14,200
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started