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The following comparative current asset information has been extracted from a balance sheet for two successive years. Complete a horizontal analysis for years 0007 too
The following comparative current asset information has been extracted from a balance sheet for two successive years. Complete a horizontal analysis for years 0007 too 0008 and a vertical common-sized analysis for year 0008. show the increase (+) or decrease (-) in dollars and the percentage of changes in the horizontal analysis
current assets | year 0007 | year 0008 |
cash | $10,000 | $12,000 |
credit card | 1,000 | 1,500 |
accounts receivable | 800 | 880 |
food inventory | 11,200 | 7,840 |
prepaid expenses | 3,300 | 4,620 |
total current assets | $26,300 | 26,840 |
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