/ Question 5 2 pts / Horizontal analysis of comparative financial statements includes: calculation of dollar amount changes and percentage changes from the previous to the current year. calculation of liquidity ratios. evaluation of each component in a financial statement to a total within the statement. development of common-sized statements. D Question 6 2 pts On a common-sized balance sheet, 100% is: total current assets. total liabilities. total property, plant, and equipment. total assets. Question 7 2 pts The following totals for the month of April were taken from the payroll register of Magnum Company: Salaries Payable.......................... $10,000 FICA & Medicare taxes withheld ...........$750 Income taxes withheld ........ ........$2,000 Unemployment taxes ..............................$420 The entry to record the accrual of the employer's payroll taxes would include a: credit to Payroll Tax Expense for $420. debit to FICA Taxes Payable for $1,500. debit to Payroll Tax Expense for $1.620. debit to Payroll Tax Expense for $1.170. Question 8 2 pts Based on the following data for the current year, what is the inventory turnover?! Sales on account during year.............. .....$700,000 Cost of goods sold during year ................$270,000 Accounts receivable, beginning of year........ ..$45,000 Accounts receivable, end of year ... -$35,000 Inventory, beginning of year... $90,000 $ 110,000 Inventory, end of year