Jill's Bike: Given the following balance sheet, complete a horizontal analysis

2. Given the following balance sheet, complete a horizontal analysis. Compute the percentage to the nearest tenth of a percent.

Jill’s Bikes
Comparative Balance Sheet
For Years Ended December 31, 2011 and 2010
(in thousands) 2011 2010 Difference Percentage
Assets
Current Assets
Cash and Equivalents $72 $94
Accounts Receivable, net 122 104
Inventory 288 232
Total Current Assets 482 430
Property, Plant and Equipment 638 358
Total Assets $1,120 $788
Liabilities
Current Liabilities
Accounts Payable $242 $148
Accrued Liabilities 48 66
Total Current Liabilities 290 214
Long-Term Liabilities 346 208
Total Liabilities 636 422
Stockholders’ Equity
Common Stock 70 60
Retained Earnings 414 306
Total Stockholders’ Equity 484 366
Total Liabilities and
Stockholders’ Equity $1,120 $788


Click here for the solution: Record the following transactions using the accounting equation

What is apparent from a horizontal presentation of financial statement information?

3. What is apparent from a horizontal presentation of financial statement information? A vertical presentation?


Click here for the solution: What is apparent from a horizontal presentation of financial statement information?