Comparative information taken from the Bergeron Company financial statements is shown below: ...
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Accounting
Comparative information taken from the Bergeron Company financial statements is shown below:
2021
2020
(a)
Accounts receivable
$ 175,000
$ 140,000
(b)
Retained earnings
30,000
(14,000
)
(c)
Sales revenue
855,000
750,000
(d)
Operating expenses
170,000
200,000
(e)
Income taxes payable
11,000
10,000
Using horizontal analysis, show the percentage change from 2020 to 2021 with 2020 as the base year. (Round answers to 0 decimal places, e.g. 20%. If answer is zero please enter 0, do not leave any fields blank.)
Percentage change
(a)
Accounts receivable
enter percentages
%
select an option Not possible to compute -Increase -Decrease
(b)
Retained earnings
enter percentages
%
select an option IncreaseNot possible to compute -Decrease -increase
(c)
Sales revenue
enter percentages
%
select an option Not possible to compute -decrease -increase
(d)
Operating expenses
enter percentages
%
select an option Decrease- Not possible to compute -increase
(e)
Income taxes payable
enter percentages
%
select an option Increase- Not possible to compute -Decrease
Answer & Explanation
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