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 usingvoice-over PowerPointor YouTube.

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.

ABC COMPANYBALANCE SHEETAt December 31, 20X2 and December 31, 20X120X220X1Dollar Change% ChangeAssetsCurrent AssetsCash and cash equivalents$182,225143,010Trading Securities48,00039,600Accounts receivable28,00019,500Allowance for doubtful accounts(5,000)(2,900)Accounts receivable, net23,00016,600Inventories2,4503,600Prepaid expenses and other receivables200750Available-for-sale securities17,75014,005Total current assets$296,625234,165Property, plant and equipment, net304,550299,050Intangible Assets300300Total assets$601,475533,515Liabilities and Shareholders' EquityCurrent LiabilitiesSalaries Payable85,00061,950FICA-Social Security Taxes Payable10,5407,682FICA-Medicare Taxes Payable2,4651,797Employee Federal Income Taxes Payable8,5006,000State Unemployment Taxes Payable756540Federal Unemployment Taxes Payable8460Notes payable or current portion of long-term debt$24,00024,000Accounts payable14,03017,050Total current liabilities145,375119,079Long-term debt104,400128,400Total liabilities$249,775247,479Shareholders' equityCommon stock, $10 per value; 50,000 shares authorized; 20,000 shares issued and outstanding200,000200,000Retained earnings151,70086,036Total shareholders' equity351,700286,036Total liabilities and shareholders' equity$601,475533,515

ABC COMPANY BALANCE SHEET At December 31, 20%2 and December 31, 20X1 20X2 20X1 Dollar Change % Change Assets Current Assets Cash and cash equivalents 182,225 143,010 Trading Securities 48,000 39,600 Accounts receivable 28,000 19,500 Allowance for doubtful accounts (5,000) 2,900) 11 Accounts receivable, net 23,000 16,600 12 Inventories 2,450 3,600 13 Prepaid expenses and other receivables 200 750 14 Available-for-sale securities 17,750 14,005 15 Total current assets 296,625 234,165 16 Property, plant and equipment, net 304,550 299,050 Intangible Assets 300 Total assets 601,475 533,515 21 Liabilities and Shareholders' Equity 22 Current Liabilities Salaries Payable 85,000 61,950 FICA-Social Security Taxes Payable 10.540 7.682 FICA-Medicare Taxes Payable 2,465 1,797 6 Employee Federal Income Taxes Payable 8.500 000'9 State Unemployment Taxes Payable 756 540 Federal Unemployment Taxes Payable 84 Notes payable or current portion of long-term debt $ 24,000 24,000 Accounts payable 14,030 17,050 1 Total current liabilities 45.375 19,079 12 13 Long-term debt 104,400 128, 400 Total liabilities 249,775 247,479 16 Shareholders' equity Common stock, $10 per value; 50,000 shares authorized; 20,000 shares issued and outstanding 200,000 200,000 18 Retained carings 151,700 86,036 39 10 Total shareholders' equity 351,700 286,036 1 Total liabilities and shareholders' equity 601,475 533,515