Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN: 9781337690881
Author: Jay Rich, Jeff Jones
Publisher: Cengage Learning
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2. Prepare a horizontal analysis for 2025 using 2024 as the base year. (Note: If the percentage increase or decrease
cannot be calculated, then leave the cell blank. Decreases should be indicated by a minus sign. Round your percentage
answers to 1 decimal place.)
Assets
Cash
Accounts receivable
Inventory
Buildings
FEDERER SPORTS APPAREL
Balance Sheet
December 31
Year
Increase (Decrease)
2025
2024
Amount
%
$
2,431,000 $ 754,000
1,581,000
1,305,000
3,128,000
1,595,000
11,832,000
11,832,000
(1,972,000)
(986,000)
Less: Accumulated depreciation
Total assets
Liabilities and Stockholders' Equity
Accounts payable
Contingent liability
Common stock
$ 17,000,000 $ 14,500,000
1,496,000 $ 1,856,000
$
1,360,000
1,100,000
7 888 000
7 888 0001
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Transcribed Image Text:2. Prepare a horizontal analysis for 2025 using 2024 as the base year. (Note: If the percentage increase or decrease cannot be calculated, then leave the cell blank. Decreases should be indicated by a minus sign. Round your percentage answers to 1 decimal place.) Assets Cash Accounts receivable Inventory Buildings FEDERER SPORTS APPAREL Balance Sheet December 31 Year Increase (Decrease) 2025 2024 Amount % $ 2,431,000 $ 754,000 1,581,000 1,305,000 3,128,000 1,595,000 11,832,000 11,832,000 (1,972,000) (986,000) Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Contingent liability Common stock $ 17,000,000 $ 14,500,000 1,496,000 $ 1,856,000 $ 1,360,000 1,100,000 7 888 000 7 888 0001
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Cornerstones of Financial Accounting
Accounting
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Cengage Learning