Throughout the project, you have been asked a number of questions relating to the Balance Sheet of ABC Company. Using the Balance Sheet found below, perform a horizontal analysis. Once complete, use your new version of the Balance Sheet to present and discuss the Balance Sheet of ABC Company using voice-over PowerPoint. Based on the inferences you make from your horizontal analysis, discuss any improvements and/or changes that may have occurred since the prior year. Consider addressing the items that the Board of Directors requested information on throughout the project: (1) Accounts Receivables and the process for uncollectible accounts; (2) Payroll Liabilities as well as other Current or Long-Term liabilities; and (3) the types of investments held by ABC Company. Keep in mind the intended audience of your presentation. 1 ABC COMPANY 2 BALANCE SHEET 3 At December 31, 20X2 and December 31, 20X1 4 5 Assets 6 Current Assets 7 8 O 9 10 11 Accounts receivable, net 12 Inventories 24 25 25 43 44 Cash and cash equivalents Trading Securities Accounts receivable 16 17 Property, plant and equipment, net 18 Intangible Assets 19 Total assets 20 21 Liabilities and Shareholders' Equity 22 Current Liabilities 23 Salaries Payable 32 WA 45 46 13 Prepaid expenses and other receivables 14 Available-for-sale securities 15 Total current assets Allowance for doubtful accounts Allo 26 Employee Federal Income Taxes Payable 27 27 State Unemployment Taxes Payable 28 28 Federal Unemployment Taxes Payable 29 Notes payable or current portion of long-term debt 30 Accounts payable 20 31 Total current liabilities S FICA-Social Security Taxes Payable FICA-Medicare Taxes Payable 33 Long-term debt 20 34 Total liabilities 35 36 Shareholders' equity 37 Common stock, $10 per value; 50,000 shares authorized; 20,000 shares issued and outstanding Retained earnings 38 39 40 Total shareholders' equity 41 Total liabilities and shareholders' equity 42 A S S S S S B S S $ S S $ 11 S S S S S S $ S S S S S S $ $ C 20X2 247,225 48,000 28,000 (5,000) 23,000 2,450 1,200 17,750 339,625 404,550 300 744,475 75,000 10,540 2,465 8,500 756 84 24,000 15,030 136,375 204,400 340,775 275,000 128,700 403,700 744,475 D 20X1 168,010 39,600 19,500 (2,900) 16,600 3,600 750 14,005 242,565 299,050 300 541,915 66,950 7,682 1,797 6,000 540 60 24,000 17,050 124,079 128,400 252,479 220,000 69,436 289,436 541,915 E Dollar Change F % Change G H