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QUESTION 9 Presented below is selected data from the financial statements of Horizons,...

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Accounting

QUESTION 9
Presented below is selected data from the financial statements of Horizons, Inc. for the current and prior year:
12/31/20X2
12/31/20X1
Current assets
$330,000
$220,000
Total assets
$2,300,000
$1,950,000
Current liabilities
$195,000
$180,000
Total liabilities
$1,190,000
$1,180,000
Total stockholders' equity
$1,110,000
$770,000
Net sales
$5,200,000
$3,900,000
Cost of Goods Sold
$3,800,000
$2,690,000
Wages expense
$953,000
$869,000
Supplies expense
$60,000
$50,000
Depreciation expense
$35,000
$32,000
Interest expense
$12,000
$9,000
Net income
$340,000
$250,000
A horizontal analysis of the balance sheet would show (select all that apply):
A.
Total assets increased 17.95% from 20X1 to 20X2.
B.
The debt ratio for 20X2 is 51.74%.
C.
Net income increased 36% from 20X1 to 20X2.
D.
Current assets increased 50% from 20X1 to 20X2
E.
Total stockholders' equity increased 44.16% from 20X1 to 20X2.

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