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Show the percentage change for each balance sheet item

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Reference no: EM133173344

Question - The comparative balance sheet of ACCO 450 Company appears below:

ACCO 450 COMPANY Comparative Balance Sheet December 31, 2022

 

2020

2019

Assets

 

 

Current assets

$360

$300

Plant assets

640

500

Total assets

$1,000

$800

Liabilities and stockholders' equity

 

 

Current liabilities

$160

$120

Long-term debt

240

160

Common stock

340

320

Retained earnings

260

200

Total liabilities and stockholders' equity

$1,000

$800

Required -

(a) Using horizontal analysis, show the percentage change for each balance sheet item using 2022 as a base year.

(b) Using vertical analysis, prepare a common size comparative balance sheet.

Reference no: EM133173344

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