Comparative information taken from the London Antiques Corporation financial statements is shown below: $\begin{array}{lrr}
&2014&2013\
\text { 1. Notes receivable } & \$ 80,000 & \$-0- \
\text { 2. Accounts receivable } & 182,000 & 140,000 \
\text { 3. Retained earnings } & 49,000 & (40,000) \
\text { 4. Sales } & 930,000 & 750,000 \
\text { 5. Operating expenses } & 170,000 & 200,000 \
\text { 6. Income taxes payable } & 95,000 & 70,000
\end{array}$ Instructions
Using horizontal analysis, show the percentage change from 2013 to 2014 with 2013 as the base year.

Question

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The Answer of Comparative information taken from the London Antiques Corporation financial statements is shown below: $\begin{array}{lrr}
&2014&2013\
\text { 1. Notes receivable } & \$ 80,000 & \$-0- \
\text { 2. Accounts receivable } & 182,000 & 140,000 \
\text { 3. Retained earnings } & 49,000 & (40,000) \
\text { 4. Sales } & 930,000 & 750,000 \
\text { 5. Operating expenses } & 170,000 & 200,000 \
\text { 6. Income taxes payable } & 95,000 & 70,000
\end{array}$ Instructions
Using horizontal analysis, show the percentage change from 2013 to 2014 with 2013 as the base year.

Comparative Information Taken from the London Antiques Corporation Financial Statements