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.