Using the Following Selected Items from the Comparative Balance Sheet

question 12

Essay

Using the following selected items from the comparative balance sheet of Kato Company, illustrate horizontal and vertical analysis. $\begin{array}{lrr}&\text { December 31, } 2014&\text { December 31, } 2013\\ \text { Accounts Receivable } & \$ 720,000 & \$ 630,000 \\\text { Inventory } & 450,000 & 360,000 \\\text { Total Assets } & 3,200,000 & 3,000,000\end{array}$

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Definitions:

Labor Dispute

A labor dispute is a disagreement between employers and employees regarding employment conditions, wages, work hours, or other aspects of worker rights and welfare.

FMLA

The Family and Medical Leave Act, a U.S. federal law that provides employees with unpaid, job-protected leave for family and medical reasons.

Employer Liability

The legal responsibility of employers for injuries, damages, or losses caused by their employees during the course of their employment.

Remedy

Legal solutions or actions used to enforce a right, resolve a dispute, or rectify a wrongdoing or injury, including compensation, restitution, or injunctions.