Question

Sevignys Salon, Inc Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 Assets Cash Accounts Receivable Supplies S 18,059 S 1,700 170 4,900 (608) S 24,221 S 11,000 400 160 1,300 (99) 12,761 quipment (Less Accumulated Depreciation) Total Assets Liabilities Accounts Payable Notes Payable (long-term) 850 1,300 5,000 3,000 Stockholders' equity Common Stock Retained Earnings Total Liabilities and Stockholders' Equity 4,893 15,478 S 24,221 S 893 5.568 12,761

Use the above comparative balance sheet to answer the following problem:

Answer 1

Sevingnys Salon, Inc.
Comparative Balance Sheet (Horizontal Analysis)
December 31 2019 and 2018
	Years		Increase or (Decrease)
	2019	2018	Amount	Percentage
Assets
Cash	$       18,059.00	$      11,000.00	$    7,059.00	64.17%
Accounts Receivable,Net	$         1,700.00	$            400.00	$    1,300.00	325.00%
Supplies	$             170.00	$            160.00	$          10.00	6.25%
Equipment	$         4,900.00	$         1,300.00	$    3,600.00	276.92%
Less: Accumulated Depreciation	$           (608.00)	$            (99.00)	$     (509.00)	514.14%
Total Assets	$       24,221.00	$      12,761.00	$ 11,460.00	89.80%
Liabilities
Accounts payables	$             850.00	$         1,300.00	$     (450.00)	-34.62%
Notes payable (long term)	$         3,000.00	$         5,000.00	$ (2,000.00)	-40.00%
Stockholder's Equity
Common stock	$         4,893.00	$            893.00	$    4,000.00	447.93%
Retained earnings	$       15,478.00	$         5,568.00	$    9,910.00	177.98%
Total Liabilities and Stockholder's Equity	$       24,221.00	$      12,761.00	$ 11,460.00	89.80%