Reference no: EM131996532

Question - Horizontal analysis. Mary Lynn Corporation has been operating for several years. Selected data from the 20X1 and 20X2 financial statements follow.

20X2 20X1

Current Assets $86,000 $80,000

Property, Plant, and Equipment (net) 99,000 90,000

Intangibles 25,000 50,000

Current Liabilities 40,800 48,000

Long-Term Liabilities 153,000 160,000

Stockholders' Equity 16,200 12,000

Net Sales 500,000 500,000

Cost of Goods Sold 322,500 350,000

Operating Expenses 93,500 85,000

a. Prepare a horizontal analysis for 20X1 and 20X2. Briefly comment on the results of your work.