Data for Gobell,Inc $\text {Gobell, Inc.}$ $\text {Comparative Balance Sheet}$ $\text {December 31,2019 and 2018}$

question 60

Essay

Data for Gobell,Inc.follow:
Assets
Current Assets:
$\text {Gobell, Inc.}$
$\text {Comparative Balance Sheet}$
$\text {December 31,2019 and 2018}$
$\begin{array} { l l l } &2019&2018\\\text { Cash } & \$ 121,000 & \$ 100,000 \\\text { Accounts Receivables, Net } & 117,000 & 125,000 \\\text { Merchandise Inventory } & 70,000 & \$ 5,000 \\\text { Total Assets } & \$ 30 \mathrm {~B} , 000 & \$ 310,000\end{array}$ 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
$\begin{array}{lll}\text { Preferred Stock } & 94,500 & 110,000 \\\text { Common Stockholders' Equity } & \underline{50,000} & \underline{50,000} \\\text { Total Liabilities and Stockholders' Equity } & \underline{\$ 308,000} & \underline{\$ 310,000}\end{array}$
Prepare a horizontal analysis of the comparative balance sheet of Gobell,Inc.(Round to one decimal place.)

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