The following is a summary of information presented on the financial statements of a company on December 31, 2017 Account Current Assets Accounts Receivable Merchandise Inventory Current Liabilities Long-term Liabilities Common Stock Retained Earnings 2017 $86,000 61,000 63,000 56,000 40,000 71,000 69,000 2016 $70,000 69,000 56,000 49,000 53,000 57,000 49,000 With respect to long-term liabilities, a horizontal analysis reveals O A. long-term liabilities decreased by $7,000 O B. long-term liabilities decreased by 24.53% O c. long-term liabilities decreased by $14,000 OD. long-term liabilities decreased by 24.56%