What a horizontal analysis report with respect to assets

Reference no: EM131983463

Problem

The Stemple Corporation data for the current year:

Account	Current year	Prior year
Current assets	$ 57 comma 240$57,240	?$42,000
?A/R	?$73,800	?$60,000
Mdse. Inventory	?$67,500	?$50,000
Current liabilities	$ 47 comma 400$47,400	?$30,000
Longminus-term liabilities	?$26,600	?$28,000
Common stock? (5,000 shares)	?$41,000	?$35,000
Retained earnings	?$83,540	?$59,000
Net sales revenue	?$595,000	?$500,000
COGS	?$480,000	?$400,000
Gross Profit	?$115,000	?$100,000
?Selling/General expenses	?$44,000	?$50,000
Net income before taxes	?$71,000	?$50,000
Income tax expense	?$16,500	?$15,000
Net Income	?$54,500	?$35,000

What would a horizontal analysis report with respect to current assets? show?

Reference no: EM131983463

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