1. Prepare a horizontal analysis by computing the amounts and percentage changes for the following balance sheet items; place your answers in the blanks provided.
20x6 20x5 Amount Percentage
Assets
Current assets $ 6,500 $ 5,000 1500 30
Property, plant, and equipment 22,000 25,000 (3000) 10
Total assets $28,500 $30,000 (2000) 6.6
Liabilities and Stockholders'' Equity
Liabilities $ 5,500 $10,000 (4500) 45
Stockholders'' equity 23,000 20,000 3000 15
Total liabilities and stockholders'' equity $28,500 $30,000 (1500) 5