Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Using horizontal analysis, show the percentage change for each balance sheet item using 2020 as a base year. (Round answers to 0 decimal places, eg.

image text in transcribed

image text in transcribed

Using horizontal analysis, show the percentage change for each balance sheet item using 2020 as a base year. (Round answers to 0 decimal places, eg. 15%. Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses es. (45).) BLOSSOMCOMPANY Comparative Balance Sheet December 31 Assets 2021 2020 Percentage change $490 $310 58 Current assets % Property, plant and equipment 580 540 7 % Total assets $1,070 $850 26 Liabilities and stockholders' equity Current liabilities $200 $130 54 % ON Long-term debt 270 170 59 % Common stock 320 340 (6) % Retained earnings 280 210 33 % Total liabilities and stockholders' equity $1,070 $850 26 Attempts: 1 of 1 used (b) Using vertical analysis, prepare a common size comparative balance sheet. (Round percentages to O decimal places eg. 12) Using vertical analysis, prepare a common size comparative balance sheet. (Round percentages to O decimal places, eg. 12) BLOSSOMCOMPANY Comparative Balance Sheet December 31 2021 2020 Assets Amount Percentage Amount Percentage Current assets $490 % $310 % Property, plant and equipment 580 % 540 % Total assets $1,070 % $850 % Liabilities and stockholders equity Current liabilities $200 % $130 96 Long-term debt 270 % 170 96 Common stock 320 % 340 96 Retained earnings 280 % 210 96 Total liabilities and stockholders equity $1,070 % $850

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management and Cost Accounting

Authors: Colin Drury

8th edition

978-1408041802, 1408041804, 978-1408048566, 1408048566, 978-1408093887

Students also viewed these Accounting questions