Perform a horizontal and vertical analysis of the Balance Sheet and the Income Statement for Jim’s Auto Body and Angel’s Auto Body.

Perform a horizontal and vertical analysis of the Balance Sheet and the Income Statement for Jim’s Auto Body and Angel’s Auto Body, a similar company within the same industry.
Analyze the data to glean information regarding the company’s profitability and any areas for improvement.
Jim’s Auto Body
Balance Sheet
As of April 30, 2014
Assets:
Cash 101,800
Acct Rec’able 20,000
PP In 1,100
Equipment 55,000
Accu. Dep. 500
Supplies 2,600
Total Assets 180,000
Liabilities and Stockholders’ Equity
Liabilities:
Accounts Payable 8,000
Salary Payable 3,000
Total Liabilities 11000.00
Stockholders’ Equity:
Common Stock   150,000
Retained Earnings 19000
Total Stockholders’ Equity 169000.00
Total Liabilities & Stockholders’ Equity 180,000
Angel’s Auto Body
Balance Sheet
As of April 30, 2014
Assets:
Cash 332,000
Acct Rec’able 67,000
PP In 1,100
Equipment 122,000
Accu. Dep. 3,300
Supplies 12,000
Total Assets 530,800
Liabilities and Stockholders’ Equity
Liabilities:
Accounts Payable 192,000
Salary Payable 10,000
Total Liabilities 202000.00

Stockholders’ Equity:
Common Stock   203,800
Retained Earnings 125000
Total Stockholders’ Equity 328800.00
Total Liabilities & Stockholders’ Equity 530,800