P24-4 Horizontal and Vertical Analysis

P24-4 Horizontal and Vertical Analysis for $14 OnlyP24-4 Horizontal and Vertical Analysis

Presented below is the comparative balance sheet for Gilmour Company. 
Gilmour Company
Comparative Balance Sheet 
As of December 31, 2015 and 2014 
December 31
2015                 2014 
Assets
Cash                                                 180,000          275,000
Accounts receivable (net)                220,000           155,000
Short-term investments                  270,000           150,000
Inventories 1,060,000 980,000
Prepaid expenses 25,000 25,000
Plant and equipment 2,585,000 1,950,000
Accumulated depreciation (1,000,000) (750,000)
$3,340,000 $2,785,000
Liabilities and Stockholders’ Equity
Accounts payable 50,000 75,000
Accrued expenses 170,000 200,000
Bonds payable 450,000 190,000
Capital stock 2,100,000 1,770,000
Retained earnings 570,000 550,000
$3,340,000 $2,785,000
Instructions: 
(Round to two decimal places)
a. Prepare a comparative balance sheet of Gilmour Company showing the percent each item is of the total assets or total liabilities and stockholders’ equity.
b. Prepare a comparative balance sheet of Gilmour Company showing the dollar change and the percent change for each item.
c. Of what value is the additional information provided in part (a)?
d. Of what value is the additional information provided in part (b)?
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