prepare a comparative balance sheet of gilmour company showing the dollar change and 592597

(Horizontal and Vertical Analysis) Presented below are comparative balance sheets for the Gilmour Company.

GILMOUR COMPANY
COMPARATIVE BALANCE SHEET
AS OF DECEMBER 31, 2013 AND 2012

December 31

2013

2012

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

Fixed assets

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)?