Horizontal analysis. Mary Lynn Corporation has been operating for several years. Selected data from the 20X1 and 20X2 financial statements follow.
|
20X2
|
20X1
|
|
Current Assets
|
$ 76,000
|
$ 80,000
|
|
Property, Plant, and Equipment (net)
|
99,000
|
90,000
|
|
Intangibles
|
25,000
|
50,000
|
|
Current Liabilities
|
40,800
|
48,000
|
|
Long-Term Liabilities
|
143,000
|
160,000
|
|
Stockholders' Equity
|
16,200
|
12,000
|
|
Net Sales
|
500,000
|
500,000
|
|
Cost of Goods Sold
|
332,500
|
350,000
|
|
Operating Expenses
|
93,500
|
85,000
|
|
|
|
|
Prepare a horizontal analysis for 20X1 and 20X2. Briefly comment on the results of your work