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Ride Away Inc. Financial Information

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Prepare a schedule showing a horizontal analysis for 2007 using 2006 as the base year.

E13-3 Here is financial information for Ride Away Inc.
December 31, 2007 December 31, 2006
Current assets $128,000 $ 80,000
Plant assets (net) 400,000 360,000
Current liabilities 91,000 65,000
Long-term liabilities 144,000 90,000
Common stock, $1 par 138,000 115,000
Retained earnings 155,000 170,000
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Prepare a schedule showing a horizontal analysis for 2007 using 2006 as the base year.

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This solution is comprised of a detailed explanation to prepare a schedule showing a horizontal analysis for 2007 using 2006 as the base year.

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E13-3 Here is financial information for Ride Away Inc.

December 31, 2007 December 31, 2006
Current assets $128,000 $ 80,000
Plant assets (net) 400,000 360,000
Current liabilities 91,000 65,000
Long-term liabilities ...

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