QUESTION 13The comparative balance sheet of Drango Company appearsbelow:HUERTO COMPANYComparative Balance SheetDecember 31, 2007Assets20072006Current assets$ 340$280Plant assets675520Total assets$1,015$800Liabilities and stockholders’ equityCurrent liabilities$ 180$120Long-term debt250160Common stock325320Retained earnings260200Total liabilities and stockholders’ equity$1,015$800Instructions(a) Using horizontal analysis, show the percentage change foreach balance sheet item using 2006 as a base year.(b) Using vertical analysis, prepare a common size comparativebalance sheet.Path: pWords:020 points
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