2. Prepare a horizontal analysis of Fantasy Football\'s 2018 balance sheet using
ID: 2587310 • Letter: 2
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 stocknoldersExplanation / Answer
FANTASY FOOTBALL BALANCE SHEETS December 31 2,016 2,017 Change % Current Assets Cash 208,000 262,200 54200 26.06% Account Receivables 856,000 999,400 143400 16.75% Merchandise Inventory 1,900,000 1,349,000 -551000 -29.00% Supplies 124,000 87,400 -36600 -29.52% Long term Assets Equipemnts 1,292,000 1,292,000 0 0.00% Less: Accumulated Depreciation (380,000) (190,000) 190000 -50.00% Total Assets 4,000,000 3,800,000 liabilities and equity Current Liabilities Account payables 168,000 129,200 -38800 -23.10% Interest Payables - 3,800 3800 Income tax payables 76,000 76,000 0 0.00% 0 #DIV/0! Long term liabilities 0 Notes Payables 760,000 760,000 0 0.00% Stockholders Equity 0 Common Stock 786,600 786,600 0 0.00% Retained earnings 2,209,400 2,044,400 -165000 -7.47% Total liabilities and equity 4,000,000 3,800,000
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.