Question

The following is a summary of information presented on the financial statements of a company on...

The following is a summary of information presented on the financial statements of a company on December​ 31, 2019.

Account

2019

2018

Current Assets

$82,000

$$78,000

Accounts Receivable

90,000

63,000

Merchandise Inventory

64,000

60,000

Current Liabilities

55,000

50,000

Long−term

Liabilities

42,000

53,000

Common Stock

73,000

50,000

Retained Earnings

66,000

48,000

With respect to long−term liabilities, a horizontal analysis reveals​ ___

A.long−term liabilities decreased by $5,000

B. long−term liabilities decreased by 20.75​%

C.long−term liabilities decreased by 46​%

D. long−term liabilities decreased by $ 23,000

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