Comparative information taken from the London Antiques Corporation financial statements is shown below: $\begin{array}{lcc}
&2022 & 2021\\hline
\text{1. Notes receivable}&\$ 80,000 & \$-0- \
\text{2. Accounts receivable}&182,000 & 140,000 \
\text{3. Retained earnings}&49,000 & (40,000) \
\text{4. Sales}&930,000 & 750,000 \
\text{5. Operating expenses}&170,000 & 200,000 \
\text{6. Incometaxes payable}&95,000 & 70,000
\end{array}$ Instructions
Using horizontal analysis, show the percentage change from 2021 to 2022 with 2021 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: $\begin{array}{lcc}
&2022 & 2021\\hline
\text{1. Notes receivable}&\$ 80,000 & \$-0- \
\text{2. Accounts receivable}&182,000 & 140,000 \
\text{3. Retained earnings}&49,000 & (40,000) \
\text{4. Sales}&930,000 & 750,000 \
\text{5. Operating expenses}&170,000 & 200,000 \
\text{6. Incometaxes payable}&95,000 & 70,000
\end{array}$ Instructions
Using horizontal analysis, show the percentage change from 2021 to 2022 with 2021 as the base year.

Comparative Information Taken from the London Antiques Corporation Financial Statements