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.