Refer to the information in Cornerstone Exercise 11-16.
Exercise 11-16
ANALYZING THE ACCOUNTS
A review of the balance sheet of Peterson Inc. revealed the following changes in the account balances:
a. Decrease in long-term investment
b. Decrease in accounts receivable
c. Increase in common stock
d. Increase in long-term debt
e. Decrease in accounts payable
f. Decrease in supplies inventory
g. Increase in prepaid insurance
h. Decrease in retained earnings

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