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The following information was retrieved from RAMOS COMPANY books: RAMOS COMPANY Comparative Balance Sheet December...

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Question

Accounting

The following information was retrieved from RAMOS COMPANY books:

RAMOS COMPANY

Comparative Balance Sheet

December 31, 2012 and 2011

2012 2011

Assets

Current assets $ 440 $280

Plant assets 675 520

Total assets $1,115 $800

Liabilities and stockholders' equity

Current liabilities $ 280 $120

Long-term debt 250 160

Common stock 325 320

Retained earnings 260 200

Total liabilities and stockholders' equity $1,115 $800

Instructions:

Using horizontal analysis, show the amount (Dollar) change for each balance sheet item using 2011

as a base year

Answer & Explanation Solved by verified expert
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