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Presented below is selected data from the financial statements of Horizons, Inc. for the current and prior year: 12/31/20X2 12/31/20X1 Current assets $330,000 $220,000 Total
Presented below is selected data from the financial statements of Horizons, Inc. for the current and prior year:
12/31/20X2 | 12/31/20X1 | |
Current assets | $330,000 | $220,000 |
Total assets | $2,300,000 | $1,950,000 |
Current liabilities | $195,000 | $180,000 |
Total liabilities | $1,190,000 | $1,180,000 |
Total stockholders' equity | $1,110,000 | $770,000 |
Net sales | $5,200,000 | $3,900,000 |
Cost of Goods Sold | $3,800,000 | $2,690,000 |
Wages expense | $953,000 | $869,000 |
Supplies expense | $60,000 | $50,000 |
Depreciation expense | $35,000 | $32,000 |
Interest expense | $12,000 | $9,000 |
Net income | $340,000 | $250,000 |
A horizontal analysis of the balance sheet would show (select all that apply):
A. | Net income increased 36% from 20X1 to 20X2. | |
B. | The debt ratio for 20X2 is 51.74%. | |
C. | Current assets increased 50% from 20X1 to 20X2 | |
D. | Total assets increased 17.95% from 20X1 to 20X2. | |
E. | Total stockholders' equity increased 44.16 % from 20X1 to 20X2 . |
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