Question

Using these data from the comparative balance sheet of Sheridan 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		$ 535,500		$ 450,000		$			%
Inventory		$ 861,000		$ 700,000		$			%
Total assets		$3,357,900		$2,870,000		$

Answer 1

Horizontal Analysis
			Increase or Decrease
	Dec 31,2022	31-Dec-21	Amount	Percentage
Account Receivable	$535,500.00	$450,000.00	$85,500.00	19.00%
Inventory	$861,000.00	$700,000.00	$161,000.00	23.00%
Total Asset	$3,357,900.00	$2,870,000.00	$487,900.00	17.00%