Q1 (pp. 633-634) The comparative balance sheet is displayed below for 20-1 and 20-2. a. Calculate the dollar amount of change and the percentage change for each item on the statement. Indicate an increase by placing a plus (+) sign before the amount and a decrease by placing a minus (-) sign before the amount. b. Identify and comment on the items that have significantly changed and its impact on the company. c. Comment on actions that management should consider taking. LeBlanc Sports Comparative Balance Sheet As at December 31, 20-2, 20-1 20-2 Increase (+) % Increase Decrease (-) Decrease (-) 20-1 $ Assets Current Assets Cash Accounts Receivable Merchandise Inventory Prepaid Expenses Total Current Assets 6 300 38 360 41 350 5 330 91 340 $ 13 720 44 380 39 670 5 270 103 040 - $7 420 ? ? ? -54.1% ? ? ? ? ? Plant and Equipment Land Building Store Equipment Delivery Equipment Total Plant and Equipment Total Assets ? ? ? ? ? ? 79 800 79 800 178 500 150 500 53 500 49 000 51 360 43 260 363 160 322 560 $454 500 $425 600 ? ? ? ? Liabilities and Owner's Equity Current Liabilities Accounts Payable Bank Loan Total Current Liabilities $ 19 890 $ 18 630 32 000 25 000 51 890 43 630 ? ? ? ? ? ? Owner's Equity J. LeBlanc, Capital Total Liabilities and Owner's Equity ? 402 610 $454 500 381 970 $425 600