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Question(s) / Instruction(s):

 

(Horizontal and Vertical Analysis)

Presented below are comparative balance sheets for the Gilmour Company.

GILMOUR COMPANY

Comparative Balance Sheet

As of December 31, 2011 and 2010

 

 

December 31

 

 

 

2011

2010

 

 

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 expense

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

 

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