Question

Prepare a horizontal analysis of both the balance sheet and income statement. Complete this question by entering your answers in the tabs below. Analysis Bal Sheet Analysis Inc Stmt Prepare a horizontal analysis of the balance sheet. (Negative answers should be indicated by a minus sign. Round your answers to 1 decimal place. (i.e., .234 sho be entered as 23.4).). FANNING COMPANY Horizontal Analysis of Balance Sheets 2019 2018 Percentage Change $ Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories Prepaid items Total current assets Investments Plant (net) Land 17,000 20,500 55,600 135,800 26,000 254,900 27,500 270,400 30,300 12,300 7,800 47,600 144,000 10,700 222,400 21,900 256,300 25,200

Answer 1

Please give positive ratings so I can keep answering. It would help me a lot. Please comment if you have any query. Thanks!

Fanning Company
Balance Sheet			Horizontal Analysis
	USD	USD	Increase or (Decrease) 2019 over 2018
Assets	2019	2018	Dollars	Percent
Cash	17,000.00	12,300.00	4,700.00	38.21%
Marketable Securities	20,500.00	7,800.00	12,700.00	162.82%
Accounts Receivable (net)	55,600.00	47,600.00	8,000.00	16.81%
Inventories	135,800.00	144,000.00	(8,200.00)	-5.69%
Prepaid items	26,000.00	10,700.00	15,300.00	142.99%
Total Current Assets	254,900.00	222,400.00	32,500.00	14.61%
Investments	27,500.00	21,900.00	5,600.00	25.57%
Plant (net)	270,400.00	256,300.00	14,100.00	5.50%
Land	30,300.00	25,200.00	5,100.00	20.24%
Total Assets	583,100.00	525,800.00	57,300.00	10.90%
Liabilities
Notes Payable	16,400.00	5,500.00	10,900.00	198.18%
Accounts Payable	112,800.00	98,800.00	14,000.00	14.17%
Salaries Payable	19,600.00	13,500.00	6,100.00	45.19%
Total Current Liabilities	148,800.00	117,800.00	31,000.00	26.32%
Bonds Payable	98,800.00	98,800.00	-	0.00%
Other	31,900.00	26,500.00	5,400.00	20.38%
Total Non Current Liabilities	130,700.00	125,300.00	5,400.00	4.31%
Total Liabilities	279,500.00	243,100.00	36,400.00	14.97%
Stockholder's Equity
Preferred Stock	73,000.00	73,000.00	-	0.00%
Common Stock	73,000.00	73,000.00	-	0.00%
Retained Earnings	157,600.00	136,700.00	20,900.00	15.29%
Total Stockholder's Equity	303,600.00	282,700.00	20,900.00	7.39%
Total Liabilities and Equity	583,100.00	525,800.00	57,300.00	10.90%

Income Statement			Horizontal Analysis
	USD	USD	Increase or (Decrease) 2019 over 2018
	2019	2018	Dollars	Percent
Net Sales	230,800.00	211,600.00	19,200.00	9.07%
Other Revenues	9,700.00	6,200.00	3,500.00	56.45%
Total Revenues	240,500.00	217,800.00	22,700.00	10.42%
Cost of goods sold	118,600.00	101,200.00	17,400.00	17.19%
Selling, General & Administrative	53,800.00	48,700.00	5,100.00	10.47%
Interest Expense	7,700.00	6,900.00	800.00	11.59%
Income Tax	22,200.00	21,200.00	1,000.00	4.72%
Total Expense	202,300.00	178,000.00	24,300.00	13.65%
Net Income	38,200.00	39,800.00	(1,600.00)	-4.02%