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The balance sheets for Sports Unlimited for 2021 and 2020 are provided below. 2. Prepare a horizontal analysis of Sports Unlimited's 2021 balance sheet using
The balance sheets for Sports Unlimited for 2021 and 2020 are provided below. 2. Prepare a horizontal analysis of Sports Unlimited's 2021 balance sheet using 2020 as the base year. (Negative amounts and Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) SPORTS UNLIMITED Balance Sheets For the years ended December 31 Year 2021 2020 Increase (Decrease) Amount $ 171,750 $ 90.750 67,500 19,500 121,550 48,100 120,900 9,750 Assets Current assets Cash Accounts receivable Inventory Prepaid rent Long-term assets Investment in bonds Land Equipment Less Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities 98.250 177.750 169,500 (45,000) 750,000 $ 0 210 600 165,750 (26 650) 650,000 $ . NA S o search o IL - C JUU Long term assets Investment in bonds Land 98 250 177,750 169,500 (45,000) 750,000 $ 0 210 600 165,750 (26,650) 650 000 $ $ Equipment Less Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Interest payable Income tax payable Long-term liabilities Notes payable Stockholders' equity Common stock Retained earnings Total liabilities and stockholders' equity 51,000 $ 19,500 14 250 65,000 9,750 7,150 256,500 240,500 214,500 194.250 750 000 $ 214,500 113,100 650 000 $ to search O C
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