The Jiffy Corporation Data for the Current Year - What Would a Horizontal Analysis Report with Respect to

question 102

Multiple Choice

The Jiffy Corporation data for the current year: $\begin{array}{|l|c|c|}\hline \text { Account } & \text { Current year } & \text { Prior year }\\\hline \text { Current assets } & \$ 72,000 & \$ 60,000 \\\hline \text { A/R } & \$ 49,500 & \$ 45,000 \\\hline \text { Mdse. Inventory } & \$ 56,000 & \$ 40,000 \\\hline \text { Current liabilities } & \$ 63,250 & \$ 55,000 \\\hline \text { Long-term liabilities } & \$ 31,500 & \$ 30,000 \\\hline \text { Common stock (5,000 shares) } & \$ 54,000 & \$ 40,000 \\\hline \text { Retained earnings } & \$ 28,750 & \$ 20,000 \\\hline \text { Net sales revenue } & \$ 565,600 & \$ 505,000 \\\hline \text { COGS } & \$ 454,250 & \$ 395,000 \\\hline \text { Gross Profit } & \$111,350 & \$ 110,000 \\\hline \text { Selling/General expenses } & \$46,800 & \$ 52,000 \\\hline \text { Net income before taxes } & \$ 64,550 & \$ 58,000 \\\hline \text { Income tax expense } & \$ 19,250 & \$ 17,500 \\\hline \text { Net Income } & \$ 45,300&\$40,000\\\hline\end{array}$

- What would a horizontal analysis report with respect to current liabilities?

• A)Current liabilities are 11.18% of total capital.
• B)Current liabilities saw a 15% increase from the prior year to the current year.
• C)The current ratio is 1.14.
• D)Current liabilities saw a 79.05% increase from the prior year to the current year.

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Definitions:

Karen Horney

A German psychoanalyst recognized for her contributions to understanding neurosis, the development of personality, and the idea of "basic anxiety."

Psychodynamic Perspective

A psychological approach that emphasizes unconscious psychological processes and contends that childhood experiences are crucial in shaping adult personality.

Conscious

Having the awareness and thought capacity regarding one's own life, sensory experiences, thought patterns, environment, and personal moments.

Unconscious Mental Processes

Mental processes that occur without conscious awareness, influencing perceptions, feelings, thoughts, and behaviors.