The horizontal analysis of the comparative balance sheet of the company shows a 37.4% increase in total assets, 39.5% increase in total liabilities and 9.9% increase in total stockholders' equity of the company. Current assets increased 40% when compared to the previous year but this increase mostly offset by 9.9% increase in current liabilities. Accounts receivable increased 43.59% indicating deteriorated collection efforts and as a result the allowance for doubtful debts also increased to 72.4%. The investment in trading and available for sale securities increased 21.2% and 26.74% respectively. The 9.9% increase in current liabilities is mostly related to payroll liabilities of the company. There is a decrease of 18.69% in long-term debt of the company. The overall performance of the company improved except receivables collection efforts as there is 85.4% increase in retained earnings of the company