XYZ Company Balance Sheet as of December 31, 20x7 and 20x8 December 20x8 20x7 Assets Current assets: Cash and cash equivalents Accounts receivable, net Inventories Total current assets Property and equipment, net Buildings, net Land Total assets $ 22,000 $ 9,000 13,000 21,000 14,000 20,000 49,000 50,000 50,000 30,000 35,000 40,000 10,000 10,000 $ 144,000 $ 130,000 December Liabilities and stockholders' equity 20x8 20x7 Current liabilities: Accounts payable $ 14,000 $ 4,000 Short-term debt 10,000 13,000 Wages and salaries payable 2,000 1,000 Income taxes payable 2,000 Total current liabilities 26,000 20,000 Long-term debt 85,000 35,000 Other long-term liabilities 20,000 15,000 Total liabilities 131,000 70,000 Stockholders' equity Capital stock - 1,000 shares iss. and out. 10,000 10,000 Retained earnings 3,000 50,000 Total stockholders' equity 13,000 60,000 Total liabilities and stockholders' equity $144,000 $130,000 Comparative, comes from the word "compare", which is to identify and evaluate differences between two or more similar