Data for Michelle,Inc Liabilities Stockholders' Equity Prepare a Horizontal Analysis of the Comparative Balance Sheet of Michelle

question 75

Essay

Data for Michelle,Inc.follow:
Assets
Current Assets:
$\begin{array}{c}\text { Michelle, Inc.}\\\text { Comparative Balance Sheet}\\\text { December 31, 2019 and 2018}\\\begin{array}{lll}&2019&2018\\\text { Cash } & \$ 12,000 & \$ 10,200 \\\text { Accounts Receivable, Net } & 16,100 & 16,800 \\\text { Merchandise Inventory } & 45,000 & 31,000 \\\text { Prepaid Expenses } & \underline{6,500} & \underline{3,900} \\\text { Total Current Assets } & 79,600 & 61,900 \\\text { Property, Plant, and Equipment, Net } & \underline{265,000} & \underline{233,000} \\\text { Total Assets } & \$ 344,600 & \$ 294,900\end{array}\end{array}$
Liabilities
$\begin{array}{lll}\text { Total Current Liabilities } & \$ 9,900 & \$ 11,200 \\\text { Long-term Liabilities } & \underline{60,000} & \underline{50,000} \\\text { Total Liabilities } & \underline{69,900} & 61,200\end{array}$
Stockholders' Equity
$$\begin{array} { l l l } \text { Preferred Stock, 3\%, } \$ 50 \text { par } & 75,000 & 75,000 \\\text { Common Stockholders' Equity, no par } & \underline { 199,700 } & 1 58, 700 \\\text { Total Liabilities and Stockholders' Equity } & \$344,600 & \$ 294,900\end{array}$$ Prepare a horizontal analysis of the comparative balance sheet of Michelle,Inc.(Round to one decimal place.)

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Definitions:

State Governments

The governing bodies of individual states within a federation, responsible for legislating and implementing state-specific laws and regulations.

Eminent Domain

The right of a government to expropriate private property for public use, with compensation to the owner.

Governmental Taking

The act by a government of seizing private property for public use, typically with compensation, under the right of eminent domain.

Private Property

Land or belongings owned by individuals or entities that are not the government, protected by law from unauthorized use or trespass.