Atlantis Inc The Horizontal Report Shows That the Amount of Total Liabilities

question 73

Multiple Choice

Atlantis Inc. reported the following data: $$\begin{array} { | l r r r c | } \hline & & { \text { Increase(Decrease) } } \\\text { (in millions) } & 2015 & 2014 & \text { Amount } & \text { Percentage } \\\text { Assets } & & & \\\text { Current assets: } & & & \\\text { Cash } & \$ 10,000 & \$ 7,200 & \$ 2,800 & 38.9 \% \\\text { Accounts receivable, net } & 15,600 & 16,800 & ( 1,200 ) & ( 7.1 ) \% \\\text { Merchandise Inventory } & 38,000 & 31,000 & 7,000 & 22.6 \% \\\text { Total current assets } & 63,600 & 55,000 & 8,600 & 15.6 \% \\\text { Property, plant and equipment, net } & 195,000 & 168,000 & 27,000 & 16.1 \% \\\text { Other long-term assets } & 15,000 & 27,100 & ( 12,100 ) & ( 44.6 \% ) \\\text { Total assets } & \$ 273,600 & \$ 250,100 & \$ 23,500 & 9.4 \% \\\hline\end{array}$$ $\begin{array}{c}\begin{array}{lll}\text {Liabilities}\\ \text {Current liabilities:}\\ \text {Accounts payable}\\ \text {Other current liabilities}\\ \text {Total current liabilities}\\ \text {Long-term notes payable}\\ \text {Total liabilities}\\ \text {Stockholders' Equity}\\ \text {Common stock}\\ \text {Paid-in capital in excess of par}\\ \text {Retained earnings}\\ \text {Total stockholders'equity}\\ \text {Total liabilities and stockholders' equity}\end{array}\begin{array}{r}\\\\\$ 8,500 \\1,400 \\\hline 9,900 \\54,000 \\\hline \$ 63,900 \\\\\$ 12,000 \\149,000 \\48,700 \\\hline \$ 209,700 \\\hline \$ 273,600 \\\hline\end{array}\begin{array}{r}\\\\\$ 7,300 \\3,900 \\ \hline11,200 \\30,000 \\\hline \$ 41,200 \\\\\$ 12,000 \\149,000 \\47,900 \\\hline\$ 208,900 \\\hline \$ 250,100 \\\hline\end{array}\begin{array}{r}\\\\\$ 1,200 \\(2,500) \\\hline(1,300) \\24,000 \\\hline \$ 22,700 \\\\\$ 0 \\0 \\800 \\\hline \$ 800 \\\hline \$ 23,500 \\\hline\end{array}\begin{array}{c}\\\\16.4 \% \\(64.1 \%) \\\hline(11.6 \%) \\80.0 \% \\\hline 55.1 \% \\\\0.0 \% \\0.0 \% \\1.7 \% \\\hline 0.4 \% \\\hline 9.4 \%\\\hline \end{array}\end{array}$
The horizontal report shows that the amount of total liabilities has:

• A) increased by $22,700.
• B) increased by $2,500.
• C) decreased by $2,500.
• D) increased by $24,000.

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Definitions:

Shaping Process

A method of teaching new behaviors by rewarding closer and closer approximations of the desired behavior.

Behavior Modification

A therapeutic approach aiming to change undesirable behaviors through the systematic application of the principles of learning.

Operant Conditioning

A learning process where the consequences of an action affect the likelihood of the action being repeated, involving rewards and punishments.

Social Learning

Observational learning that occurs when someone watches others get rewarded or punished for behavior.