Solution-Prepare a horizontal analysis of the balance sheet

The comparative balance sheets of Ramsey Egyptian Buffet are presented below.

RAMSEY EGYPTIAN BUFFET Comparative Balance Sheets December 31
	2009	2008
Assets
Current assets	76,000	80,000
Property, plant, and equipment (net)	99,000	90,000
Intangibles	$25,000	$40,000
Total assets	$200,000	$210,000
Liabilities and stockholders' equity Current liabilities	$40,800	$48,000
Long-term liabilities	143,000	150,000
Stockholders' equity	16,200	12,000
Total liabilities and stockholders' equity	$200,000	$210,000

Instructions

(a) Prepare a horizontal analysis of the balance sheet data for Ramsey using 2008 as a base.

(b) Prepare a vertical analysis of the balance sheet data for Ramsey in columnar form for 2009.

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