2. Prepare a horizontal analysis of Sports Unlimited\'s 2018 balance sheet using

Question

2. Prepare a horizontal analysis of Sports Unlimited's 2018 balance sheet using 2017 as the base year. (Negative amounts and Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) SPORTS UNLIMITED Balance Sheets December 31 Year Increase (Decrease) 2018 2017 Amount Assets Current assets: Cash S 217,800$ 148,000 51,200 159,200 14,400 101,700 91,800 28,800 Prepaid rent Long-term assets: Investment in bonds Land Equipment Less: Accumulated depreciation 100,800 191,700 213,300 (45,900) S 900,000$ 800,000 253,600 201,600 (28,000) Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Interest payable Income tax payable S 59,400 28,800 15,300 84,800 14,400 15,200 Long-term liabilities: Notes payable 301,500 280,000 Stockholders' equity 288,000 117,600 S 900,000 800,000 Common stock 288,000 Retained earnings 207,000 Total liabilities and stockholders' equity

Explanation / Answer

SPORTS UNLIMITED

Balance Sheets

December 31

Year Increase (Decrease)

% = Increase (Decrease) ÷ Base Year × 100

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