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Condensed data taken from the ledger of Collins Company at December 31, 2006, and 2007, are as follows:

2007 2006

Current assets $ 200,000 $ 180,000

Property, plant and equipment 450,000 400,000

Intangible assets 20,700 30,000

Current liabilities 70,000 80,000

Long-term liabilities 200,000 250,000

Common Stock 275,000 200,000

Retained Earnings 125,700 80,000

Prepare a comparative balance sheet, with horizontal analysis, for December 31. 2006 and 2007. (Round percents to one decimal point.)

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M977558

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