Data for Gobell, Inc $\begin{array}{llcc} &\text {2019 } & \text {2018 } \\\end{array}$

question 51

Essay

Data for Gobell, Inc. follow:
Gobell, Inc.
Comparative Balance Sheet
December 31,2019 and 2018

$\begin{array}{llcc} &\text {2019 } & \text {2018 } \\\end{array}$
Assets
Current Assets:
$$\begin{array} { l l l } \text { Cash } & \$ 121,000 & \$ 100,000 \\\text { Accounts Receivables, Net } & 117,000 & 125,000 \\\text { Merchandise Inventory } & 70,000 & \$ 85,000 \\\text { Total Assets } & \$ 308 , 000 & \$ 310,000\end{array}$$ Liabilities
$$\begin{array} { l l l } \text { Total Current Liabilities } & \$ 63,500 & \$ 50,000 \\\text { Long-term Liabilities } & \underline { 100,000 } & \underline { 100,000 } \\\text { Total Liabilities } & \underline { 163,500 } & \underline { 150,000 }\end{array}$$ Stockholders' Equity
$\begin{array}{lll}\text { Retained Earnings } & 94,500 & 110,000 \\\text { Common Stockholders' Equity } &\underline{50,000}& \underline{50,000} \\\text { Total Liabilities and Stockholders' Equity } & \underline{\$ 308,000} & \underline{\$ 310,000}\end{array}$
Prepare a horizontal analysis of the comparative balance sheet of Gobell, Inc. (Round to one decimal place.)

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