2. Prepare a horizontal analysis of Fantasy Football\'s 2018 balance sheet using

Question

2. Prepare a horizontal analysis of Fantasy Football'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.) FANTASY FOOTBALL Balance Sheets December 31 Increase (Decrease 2017 | Amount % Year 2018 Assets Current Cash 208,000 $ 262,200 ,0000 1,900,000 1349,000 87,400 receivable Inventory Supplies 124,000 Long-lerrri assels Equiprrient Less: Accumulated depreciation 1292,0001,292,000 (380000)190,000) S 4,000,000 $3,800,000 To Liabilities and Stockholders' Equity abilities S 168,000$ 129200 3,800 76,000 76,000 Long-term liabilities Notes payable Stockholders' equity 760,000760,000 ft ,000 rati.CAM) 2,209,4002,044,40 Rctained carnings s and stocknolders

Explanation / Answer

Year Increase(Decrease) 2018 2017 Amount % Assets Current assets: Cash 208000 262200 -54200 -20.7% Accounts receivable 856000 999400 -143400 -14.3% Inventory 1900000 1349000 551000 40.8% Supplies 124000 87400 36600 41.9% Long­term assets: Equipment 1292000 1292000 0 0.0% Less: Accumulated depreciation -380000 -190000 -190000 100.0% Total assets 4000000 3800000 200000 5.3% Liabilities and Stockholders' Equity Current liabilities: Accounts payable 168000 129200 38800 30.0% Interest payable 0 3800 -3800 -100.0% Income tax payable 76000 76000 0 0.0% Long­term liabilities: Notes payable 760000 760000 0 0.0% Stockholders' equity: Common stock 786600 786600 0 0.0% Retained earnings 2209400 2044400 165000 8.1% Total liabilities and stockholders’ equity 4000000 3800000 200000 5.3%

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