The comparative balance sheet of Delta Company appears below: 
Instructions
(a) Using horizontal analysis, show the percentage change for each balance sheet item using 2016 as a base year.
(b) Using vertical analysis, prepare a common size comparative balance sheet.
Definitions:
Incentive Compensation
A form of performance-based pay where employees receive additional compensation for meeting or exceeding targets or metrics.
Balanced Scorecard
A strategic planning and management system used for aligning business activities to the vision and strategy of the organization, improving internal and external communications, and monitoring organizational performance against strategic goals.
Inspection Time
The amount of time dedicated to examining and verifying the quality of products or materials.
Value-Added
The enhancement a company gives its product or service before offering the product to customers, adding value beyond the cost of the raw materials.
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