acc362 given the following balance sheet complete a horizontal analysis compute the 491822

Given the following balance sheet, complete a horizontal analysis. Compute the percentage to the nearest tenth of a percent.

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Jill’s Bikes
Comparative Balance Sheet
For Years Ended December 31, 2011 and 2010

(in thousands

2011

2010

Difference

Percentage

Assets

Current Assets

Cash and Equivalents

$72

$94

Accounts Receivable, net

122

104

Inventory

288

232

Total Current Assets

482

430

Property, plant and Equipment

638

358

Total Assets

$1,120

$788

Liabilities

Current Liabilities

Accounts Payable

242

148

Accrued Liabilities

48

66

Total Current Liabilities

290

214

Long-Term Liabilities

346

208

Total Liabilities

636

422

Stockholders’ Equity

Common Stock

70

60

Retained Earnings

414

306

Total Stockholders’ Equity

484

366

Total Liabilities and Stockholders’ Equity

$1,120

$788

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