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Assignment 1 - Horizontal and Vertical Analysis - Complete the following assignment and submit your work to the dropbox. Record your responses in the template provided. U7A03 Assignment 1 Part A: Horizontal Analysis Item 2021 2020 2019 Net Sales $1,080,000 $1,050,000 $1,025,000 Cost of Goods Sold 878,000 865,000 852,000 Gross Profit $202,000 $185,000 $173,000 Instructions: 1. Using horizontal analysis, calculate the trend percentages for net sales, cost of goods sold, and gross profit based on the data provided for Trent Company. 2. Explain whether the trends are favourable or unfavourable for each item.
Part B: Horizontal and Vertical Analysis December 31, 2021 December 31, 2020 Accounts Receivable $898,000 $632,000 Inventory 1,020,000 998,000 Total Assets 4,250,000 3,499,000 Instructions: 1. Using the above data taken from the comparative balance sheet of Siakam Corporation, complete a horizontal analysis comparing 2021 to the base year 2020. 2. Using the above data from the comparative balance sheet of Siakam Corporation, complete a vertical analysis that will compare accounts receivable and inventory to total assets for each year. 3. What conclusions can you draw?
Part C: Comparative Balance Sheet - Horizontal and Vertical Analysis Assets 2021 2020 Current assets $540 $320 Capital assets $599 $467 Current liabilities $210 $150 Long-term debt $400 $320 Owner's Equity $920 $750 Instructions: 1. Using horizontal analysis, show the percentage change for each balance sheet item of Lowry Company, using 2020 as a base year. 2. Using vertical analysis, prepare a common size comparative balance sheet for Lowry Company for each year.
Trent Company Comparative Income Statement December 31 Increase (Decrease) during 2021 2020 2019 Amount % Increase (Decrease) during 2020 Amount % 2021 Net Sales Cost of Goods Sold Gross Profit
Siakam Corporation Comparative Balance Sheet December 31 Increase (Decrease) during 2021 2021 2020 Amount % Accounts Receivable Inventory Total Assets
Siakam Corporation Comparative Balance Sheet December 31 2021 % 2020 % Accounts Receivable Inventory Total Assets
Martin Corporation Condensed Balance Sheet December 31 Increase (Decrease) during 2021 2021 2020_Amount % Assets Current assets Capital assets Liabilities and Shareholders' Equity Current liabilities Long-term debt Owner's Equity
2020 % Lowry Company Condensed Balance Sheet December 31 2021 % Assets Current assets Capital assets Total assets Liabilities and Owner's Equity Current liabilities Long-term debt Total liabilities Owner's Equity Total Liabilities and Owner's Equity