Question
~ (1) Financial information for Nealon Inc. is presented below. December 31, 2017December 31, 2016 Current assets$140,000$110,000 Plant assets (net)440,000360,000 Current liabilities95,00075,000 Long-term liabilities165,000100,000 Common
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(1) Financial information for Nealon Inc. is presented below.
December 31, 2017December 31, 2016
Current assets$140,000$110,000
Plant assets (net)440,000360,000
Current liabilities95,00075,000
Long-term liabilities165,000100,000
Common stock, $1 par180,000120,000
Retained earnings140,000175,000
Instructions
(a) Preparea schedule showing a horizontal analysis for 2017 using 2016 as the base year. 7 points
(b) What is the primary use of horizontal analysis? 3 points
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Fundamentals Of Accounting
Authors: Claudia Gilbertson
10th Edition
1111581169, 978-1111581169
