Question

Using these data from the comparative balance sheet of Blossom Company, perform horizontal analysis. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 0 decimal places, e.g. 12%.)

						Increase or (Decrease)
		Dec. 31, 2022		Dec. 31, 2021		Amount		Percentage
Accounts receivable		$ 345,000		$ 300,000		$Enter increase or decrease amount in dollars.		Enter increase or decrease in percentages rounded to 0 decimal places.	%
Inventory		$ 649,000		$ 550,000		$Enter increase or decrease amount in dollars.		Enter increase or decrease in percentages rounded to 0 decimal points.	%
Total assets		$3,024,000		$2,700,000		$Enter increase or decrease amount in dollars.		Enter increase or decrease in percentages rounded to 0 decimal points.	%

Answer 1

			Increase or (Decrease)
	Dec. 31, 2022	Dec. 31, 2021	Amount	Percentage
Accounts receivable	$ 345,000	$ 300,000	345,000 - 300,000 = 45,000	45,000/300,000 = 15	%
Inventory	$ 649,000	$ 550,000	649,000 - 550,000 = 99,000	99,000/550,000 = 18	%
Total assets	$3,024,000	$2,700,000	3,024,000 - 2,700,000 = 324,000	324,000/2,700,000 = 12	%