Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman

Exercise 57

Use the following financial information to prepare a balance sheet with vertical analysis asof October 31, 2014, for Sticks Stones Builders Mart: cash, $45,260; accounts receivable, $267,580; merchandise inventory, $213,200; prepaid expenses, $13,400; supplies, $5,300; land, $87,600; building, $237,200; equipment, $85,630; vehicles, $54,700; computers, $31,100; investments, $53,100; accounts payable, $43,200; salaries payable, $16,500; notes payable (6-month), $102,400; mortgage payable, $124,300; notes payable (3-year), $200,000; common stock, $422,000; and retained earnings, $185,670.
Sticks Stones Builders
Mart Balance Sheet
As of October 31, 2014
b. The following financial information is for Sticks Stones Builders Mart as of October 31,
2015. Prepare a comparative balance sheet with horizontal analysis for 2014 and 2015: cash, $47,870; accounts receivable, $251,400; merchandise inventory, $223,290; prepaid expenses, $8,500; supplies, $6,430; land, $87,600; building, $234,500; equipment, $88,960; vehicles, $68,800; computers, $33,270; investments, $55,640; accounts payable, $48,700; salaries payable, $9,780; notes payable (6-month), $96,700; mortgage payable, $121,540; notes payable (3-year), $190,000; common stock, $450,000; and retained earnings, $189,540.
Sticks Stones Builders Mart
Comparative Balance Sheet
As of October 31, 2014 and 2015