Transcribed Image Text: -> ezto.mheducation.com/ext/map/index.html?_con%3Dcon&external_browser%=D0&launchUrl%=https%253A%252F%252Fblackboard.waketech.edu%252Fwebapps%2 Prepaid advertising 53,000 44,250 Total current assets 102,250 $ 88,000 Plant and equipment: Building (net) 119,500 $ 125,250 Land 87,500

Transcribed Image Text: ->
ezto.mheducation.com/ext/map/index.html?_con%3Dcon&external_browser%=D0&launchUrl%=https%253A%252F%252Fblackboard.waketech.edu%252Fwebapps%2
Prepaid advertising
53,000
44,250
Total current assets
102,250 $
88,000
Plant and equipment:
Building (net)
119,500 $
125,250
Land
87,500
87,500
Total plant and equipment
207,000 $
212,750
Total assets
309,250
300,750
Liabilities
Current liabilities:
Accounts payable
131,250 $
119,500
Salaries payable
21,750
17,500
Total current liabilities
153,000 $
137,000
Long-term liabilities:
Mortgage note payable
98,250
86,500
Total liabilities
251,250
223,500
Owner’s Equity
J. Brown, capital
58,000
77,250
Total liabilities and owner’s equity
309,250
300,750
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%24 Transcribed Image Text: Question 3- Chapter 16 Homew X
ezto.mheducation.com/ext/map/index.html?_con=con&external_browser%3D0&launchUrl=https%253A%252F%252Fblackboard.waketech.edu%252Fwebapps%252Fportal%252Fframeset.jsp%2
Complete a horizontal analysis for Brown Company. (Negative answers should be indicated by a minus sign. Leave no cells blank –
be certain to enter “O” wherever required. Round the “percent” answers to the nearest hundredth percent.)
BROWN COMPANY
Comparative Balance Sheet
December 31, 2020 and 2019
Increase (Decrease)
2020
2019
Amount
Percent
Assets
Current assets:
Cash
13,750
$4
9,000
Accounts receivable
17,250
13,000
Merchandise inventory
18,250
21,750
Prepaid advertising
53,000
44,250
Total current assets
102,250
88,000
Plant and equipment:
Building (net)
119,500
125,250
Land
87,500
87,500
Total plant and equipment
207,000
212,750
Total assets
309,250
300,750
Liabilities
Current liabilities:
Accounts navahle
131 250
119 500
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