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5. What is the most significant trend based on your horizontal analysis over this three-year period? Why?

please answer question #5. the previous answer was incorrect.

12 Months Ended Horizontal Analysis Consolidated Balance Sheets - USD ($) $ in Thousands Dec. 31, 2018 Dec. 31, 2017 S Change

Current liabilities Accounts payable $73,511 $67,839 Accrued expenses and other current liabilities $92,651 $84,315 Deferred

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Answer #1

Horizontal Analysis helps in comparing the figures of one year to other years for a Company to draw a trend. In the above case, if we compare these figures for 2017 versus 2018, we can draw a conclusion that there is an increase of 14.39% in amounts of both assets and liabilities. To start with, Cash and Cash equivalents have decreased by 88.68%. This is leading to a decrease in current assets as a whole, however, if we check the Property and equipment, it has increased by 52.97%. So the decrease in cash implies the purchase of property and equipment. Also, Goodwill and Intangible assets have increased by more than 100%. On the liabilities side, the Current position of long term debt has decreased which is a good sign. The decrease in shareholders' deficit is also a good indicator. Besides, Choice Hotels has increased its retained earnings of 26.77% indicating that management of Choice Hotels should make some better plans to use retained earnings.

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