QS 17-3 Horizontal analysis LO P1 Compute the annual dollar changes and percent changes for each of the following accounts. (Decreases should be indicated with a minus sign. Round percent change to one decimal place.) Short-term investments Accounts receivable Notes payable Current Year $375, 911 99,129 0 Prior Year $235, 231 102,691 89,640 Answer is complete but not entirely correct. Percent Change = Horizontal Analysis Calculation of Percent Change Choose Numerator: Choose Denominator Current Year minus Base Year Base Year Amount Current Year Prior Year Dollar Change 375,911 $ 235,231 $ 140,680 99,129 102,691 (3.562) 0 89,640 (89,640) Short-term investments Accounts receivable Notes payable Percent Change 46.0 38 (1000) Exercise 17-5 Determining income effects from common-size and trend percents LO P1, P2 Common-size and trend percents for Rustynail Company's sales, cost of goods sold, and expenses follow. Sales Cost of goods sold Total expenses Common-Size Percents Current Yr 1 Yr Ago 2 Yrs Ago 100.00 100.0% 100.0% 63.3 61.1 56.1 14.3 13.8 14.1 Trend Percents Current YE 1 Yr Ago 104.75 103.54 118.1 112.7 106.3 101.3 2 Yrs Ago 100.00 100.0 100.0 Determine the net income for the following years. Did the net income increase, decrease, or remain unchanged in this three-year period? Complete this question by entering your answers in the tabs below. Net Income Change in Net Income Determine the net income for the following years. (Enter all amounts as positive values.) Current Yr 1 Yr Ago 2 Yrs Ago Sales $ 100,000 Cost of Goods Sold 56,100 Total Expenses 14,100 Net Income $ 29.800 Change in Net Income tel Exercise 17-5 Determining income effects from common-size and trend percents LO P1, P2 Common size and trend percents for Rustynail Company's sales, cost of goods sold, and expenses follow. Sales cost of goods sold Total expenses Common-Size Percenta Current Yr 1 Yr Ago 2 Yrs Ago 100.0% 100.00 100.00 63.3 61.1 56.1 14.3 13.8 14.1 Trend Percents Current Yr 1 Yr Ago 104.78 103.56 119.1 112.7 106.3 101.3 2 Yrs Ago 100.00 100.0 100.0 Determine the net income for the following years. Did the net income increase, decrease, or remain unchanged in this three-year period? Complete this question by entering your answers in the tabs below. Net Income Change in Net Income Did the net income increase, decrease, or remain unchanged in this three-year period? Did the net income increase, decrease, or remain unchanged in this three-year period? Comen Net Income