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 BALANCE SHEET At December 31, 20X2 and December 31, 20X1 2 3 4 5 Assets 6 Current Assets A B C D E F G H 20X2 20X1 Dollar Change % Change 7 Cash and cash equivalents 8 Trading Securities 9 Accounts receivable 10 Allowance for doubtful accounts 11 Accounts receivable, net 12 Inventories 13 Prepaid expenses and other receivables 14 Available-for-sale securities 15 Total current assets 16 17 Property, plant and equipment, net Intangible Assets 18 19 Total assets 20 21 Liabilities and Shareholders' Equity 22 Current Liabilities 23 Salaries Payable 24 FICA-Social Security Taxes Payable 25 FICA-Medicare Taxes Payable 26 Employee Federal Income Taxes Payable 27 State Unemployment Taxes Payable 28 Federal Unemployment Taxes Payable S 247,225 168,010 $ 48,000 39,600 S 28,000 19,500 (5,000) (2,900) S 23,000 16,600 S 2,450 3,600 S 1,200 750 S 17,750 14,005 S 339,625 242,565 S 404,550 299,050 $ 300 300 $ 744,475 541,915 75,000 66,950 S 10,540 7,682 S 2,465 1,797 + S 8,500 6,000 S 756 540 S 84. 60 29 30 Notes payable or current portion of long-term debt Accounts payable $ 24,000 24,000 S 15,030 17,050 31 Total current liabilities 32 S 136,375 124,079 S 204,400 128,400 S 340,775 252,479 33 Long-term debt 34 Total liabilities 35 36 Shareholders' equity 38 37 Common stock, $10 per value; 50,000 shares authorized; 20,000 shares issued and outstanding Retained earnings S 275,000 220,000 S 128,700 69,436 39 40 Total shareholders' equity $ 403,700 289,436 41 Total liabilities and shareholders' equity $ 744,475 541,915 42 43 44 45 46