exercises ex 137 selected financial information for bradley corporation is presented 4329519

 

EXERCISES

Ex. 137

Selected financial information for Bradley Corporation is presented below.

December 31, 2005 December 31, 2004 Current assets $  62,000 $  50,000 Long-term liabilities               104,000               80,000

Retained earnings 118,000 100,000

 

Instructions

Prepare a schedule showing a horizontal analysis for 2005 using 2004 as the base year.

 

 

 

Ex. 138

Comparative information taken from the Wells Company financial statements is shown below:

2005      2004 (a) Notes receivable $  20,000 $    -0- (b) Accounts receivable               175,000               140,000 (c)               Retained earnings               30,000               (40,000) (d)               Income taxes payable               45,000               20,000

(e)Sales 930,000 750,000

(f)Operating expenses 180,000 200,000

 

Instructions

Using horizontal analysis, show the percentage change from 2004 to 2005 with 2004 as the base year.