The Following Is a Summary of Information Presented on the Financial

question 94

Multiple Choice

The following is a summary of information presented on the financial statements of a company on December 31,2019. $$\begin{array} { | l | r | r | } \hline{ \text { Account } } & { \mathbf { 2 0 1 9 } } & { \mathbf { 2 0 1 8 } } \\\hline \text { Current Assets } & \$ 88,000 & \$ 80,000 \\\hline \text { Accounts Receivable } & 94,000 & 67,000 \\\hline \text { Merchandise Inventory } & 62,000 & 58,000 \\\hline \text { Current Liabilities } & 56,000 & 49,000 \\\hline \text { Long-term Liabilities } & 44,000 & 53,000 \\\hline \text { Common Stock } & 76,000 & 57,000 \\\hline \text { Retained Earnings } & 68,000 & 46,000 \\\hline\end{array}$$ With respect to long-term liabilities,a horizontal analysis reveals ________.

• A) long-term liabilities decreased by $19,000
• B) long-term liabilities decreased by 33.33%
• C) long-term liabilities decreased by 16.98%
• D) long-term liabilities decreased by $7000

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Definitions:

Verruca

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An infestation of lice on the human body, common types include head, body, and pubic lice.