Required Information Problem 12-3A (Algo) Perform vertical and horizontal analysis (LO12-1, 12-2) [The following information applies to the questions displayed below.] The balance sheets for Sports Unlimited for 2024 and 2023 are provided below. Problem 12-3A (Algo) Part 2 2. Prepare a horizontal analysis of Sports Unlimited's 2024 balance sheet using 2023 as the base year. (Values to be deducted and decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity SPORTS UNLIMITED Balance Sheets For the Years Ended December 31 Year $ $ $ $ 2024 217,800 $ 101,700 91,800 28,800 100,800 191,700 213,300 (45,900) 900,000 $ 59,400 $ 28,800 15.300 301,500 288,000 207.000 900,000 $ 2023 148.000 51,200 159,200 14,400 15.400 253,600 201,600 (28,000) 815,400 84,800 14,400 15,200 280,000 288,000 133,000 815,400 Increase (Decrease) Amount
Required Information Problem 12-3A (Algo) Perform vertical and horizontal analysis (LO12-1, 12-2) [The following information applies to the questions displayed below.] The balance sheets for Sports Unlimited for 2024 and 2023 are provided below. Problem 12-3A (Algo) Part 2 2. Prepare a horizontal analysis of Sports Unlimited's 2024 balance sheet using 2023 as the base year. (Values to be deducted and decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity SPORTS UNLIMITED Balance Sheets For the Years Ended December 31 Year $ $ $ $ 2024 217,800 $ 101,700 91,800 28,800 100,800 191,700 213,300 (45,900) 900,000 $ 59,400 $ 28,800 15.300 301,500 288,000 207.000 900,000 $ 2023 148.000 51,200 159,200 14,400 15.400 253,600 201,600 (28,000) 815,400 84,800 14,400 15,200 280,000 288,000 133,000 815,400 Increase (Decrease) Amount
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Required Information
Problem 12-3A (Algo) Perform vertical and horizontal analysis (LO12-1, 12-2)
[The following information applies to the questions displayed below.]
The balance sheets for Sports Unlimited for 2024 and 2023 are provided below.
Problem 12-3A (Algo) Part 2
2. Prepare a horizontal analysis of Sports Unlimited's 2024 balance sheet using 2023 as the base year. (Values to be deducted and
decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.)
Assets
Current assets:
Cash
Accounts receivable
Inventory
Prepaid rent
Long-term assets:
Investment in bonds
Land
Equipment
Less: Accumulated depreciation
Total assets
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable
Interest payable
Income tax payable
Long-term liabilities:
Notes payable
Stockholders' equity:
Common stock
Retained earnings
Total liabilities and stockholders' equity
SPORTS UNLIMITED
Balance Sheets
For the Years Ended December 31
Year
$
$
$
$
2024
217,800 $ 148,000
101,700
51,200
159,200
14,400
91,800
28,800
100,800
191,700
213,300
(45,900)
900,000 $
59,400 $
28,800
15,300
301,500
2023
288,000
207,000
900,000
15,400
253,600
201,600
(28,000)
815,400
84,800
14,400
15,200
280,000
288,000
133,000
$ 815,400
Increase (Decrease)
Amount
%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fea6bde4e-c725-4e00-a32f-5e39c02069ee%2F8ec54b2b-1f16-4519-a5d0-9dfd84342b3b%2Fsu4x5ca_processed.png&w=3840&q=75)
Transcribed Image Text:Required Information
Problem 12-3A (Algo) Perform vertical and horizontal analysis (LO12-1, 12-2)
[The following information applies to the questions displayed below.]
The balance sheets for Sports Unlimited for 2024 and 2023 are provided below.
Problem 12-3A (Algo) Part 2
2. Prepare a horizontal analysis of Sports Unlimited's 2024 balance sheet using 2023 as the base year. (Values to be deducted and
decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.)
Assets
Current assets:
Cash
Accounts receivable
Inventory
Prepaid rent
Long-term assets:
Investment in bonds
Land
Equipment
Less: Accumulated depreciation
Total assets
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable
Interest payable
Income tax payable
Long-term liabilities:
Notes payable
Stockholders' equity:
Common stock
Retained earnings
Total liabilities and stockholders' equity
SPORTS UNLIMITED
Balance Sheets
For the Years Ended December 31
Year
$
$
$
$
2024
217,800 $ 148,000
101,700
51,200
159,200
14,400
91,800
28,800
100,800
191,700
213,300
(45,900)
900,000 $
59,400 $
28,800
15,300
301,500
2023
288,000
207,000
900,000
15,400
253,600
201,600
(28,000)
815,400
84,800
14,400
15,200
280,000
288,000
133,000
$ 815,400
Increase (Decrease)
Amount
%
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