Complete the comparative balance sheet of gilmour company

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Reference no: EM131790819

Question - Horizontal and Vertical Analysis

Presented below are comparative balance sheets for the Gilmour Company.

GILMOUR COMPANY Comparative Balance Sheet As of December 31, 2011 and 2010


December 31


2011

2010

Assets



Cash

$180,000

$275,000

Accounts receivable (net)

220,000

155,000

Short-term investments

270,000

150,000

Inventories

1,060,000

980,000

Prepaid expense

25,000

25,000

Fixed assets

2,585,000

1,950,000

Accumulated depreciation

(1,000,000)

(750,000)


$3,340,000

$2,785,000

Liabilities and Stockholders' Equity



Accounts payable

$50,000

$75,000

Accrued expenses

170,000

200,000

Bonds payable

450,000

190,000

Capital stock

2,100,000

1,770,000

Retained earnings

570,000

550,000


$3,340,000

$2,785,000


Instructions - Complete the comparative balance sheet of Gilmour Company showing the dollar change and the percent change for each item.

Reference no: EM131790819

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