Comparative Balance Sheet AnalysisData:Assets (2023):Cash: $100,000Inventory: $80,000Equipment: $200,000Liabilities (2023):Accounts Payable: $60,000Long-term Debt: $90,000Equity (2023):Capital: $230,000Assets...
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Accounting
Comparative Balance Sheet Analysis
Data:
- Assets (2023):
- Cash: $100,000
- Inventory: $80,000
- Equipment: $200,000
- Liabilities (2023):
- Accounts Payable: $60,000
- Long-term Debt: $90,000
- Equity (2023):
- Capital: $230,000
- Assets (2022):
- Cash: $80,000
- Inventory: $70,000
- Equipment: $180,000
- Liabilities (2022):
- Accounts Payable: $50,000
- Long-term Debt: $80,000
- Equity (2022):
- Capital: $200,000
Requirements:
- Prepare the comparative balance sheet for 2022 and 2023.
- Analyze the changes in financial position between the two years.
- Discuss the implications of these changes on the company’s financial health.
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