1. Horizontal financial statements
A. None of the answers provided are correct.
B. Express all values on the balance sheet and income statement as a percentage of net sales
C. Express all values on the balance sheet and income statement as a percentage of total assets
D. Express all values on the income statement and balance sheet as a percentage of net income
2. Analysis of the financial statements of Olivia and Emily Arts Playhouse, Inc. shows that accounts receivable increased, bonds decreased, and cash increased. All three findings would be considered uses of cash.
True or False