Problem #6 - Horizontal and Vertical Analysis (Unit 7) The condensed comparative balance sheet of Mountain Equipment Co-operative, an outdoor equipment supplier, is presented here: Mountain Equipment Co-Operative Balance Sheet December 31 (in thousands) 2010 2009 Assets Current Assets Investment and advances Capital Assets Total Assets $31,117 233 37,123 $68,473 $30,656 288 29,215 $60,159 Liabilities and Members' Equity Current Liabiities Long-term liabilities Total liabilities Members' equity Total liabilities and members' equity $12,096 6,069 18,165 50,308 $68,473 $10,567 6,329 16,896 43,263 $60,159 Instructions: a) Prepare a horizontal analysis of the balance sheet for Mountain Equipment Co-op using 2009 as the base year. Show the amount of increase or decrease as well. b) Prepare a vertical analysis of the balance sheet data for Mountain Equipment Co-op for 2010 and 2009, using total assets as the base amount. c) Comment on any significant trends