Question
1. Perform a horizontal analysis on Tortoise Cleaning Corporations 2015 and 2016 balance sheets. Round percentages to one decimal place. Tortoise Cleaning Corporation Comparative Balance
1. Perform a horizontal analysis on Tortoise Cleaning Corporations 2015 and 2016 balance
sheets. Round percentages to one decimal place.
Tortoise Cleaning Corporation
Comparative Balance Sheet
December 31, 2016 and 2015
Increase (Decrease)
Assets Dec. 31, 2016 Dec. 31, 2015 Amount Percent
Current assets $ 500,200 $ 480,300
Long-term investments 1,200,450 1,540,600
Property, plant, and equipment (net) 9,750,000 8,890,000
Intangible assets 1,685,000 1,790,000
Total assets $13,135,650 $12,700,900
Liabilities
Current liabilities $ 700,100 $ 654,300
Long-term liabilities 7,685,000 7,750,300
Total liabilities $8,385,100 $8,404,600
Stockholders' Equity
Preferred 4% stock, $10 par $ 877,600 $ 875,600
Common stock, $4 par 2,450,000 2,190,000
Retained earnings 1,422,950 1,230,700
Total stockholders' equity $ 4,750,550 $ 4,296,300
Total liabilities and stockholders'
Equity $13,135,650 $12,700,900
2. Using the 2015 and 2016 balance sheets in Exercise 1, prepare a vertical analysis. Round
percentages to one decimal place.
Tortoise Cleaning Corporation
Comparative Balance Sheet
December 31, 2016 and 2015
Dec. 31, 2016 Dec. 31, 2015
Assets Amount Percent Amount Percent
Current assets $ 500,200 $ 480,300
Long-term investments 1,200,450 % 1,540,600
Property, plant, and equipment (net) 9,750,000 % 8,890,000
Intangible assets 1,685,000 % 1,790,000
Total assets $13,135,650 % $12,700,900
Liabilities
Current liabilities $ 700,100 % $ 654,300
Long-term liabilities 7,685,000 % 7,750,300
Total liabilities $8,385,100 % $8,404,600
Stockholders' Equity
Preferred 4% stock, $10 par $877,600 % $875,600
Common stock, $4 par 2,450,000 % 2,190,000
Retained earnings 1,422,950 % 1,230,700
Total stockholders' equity $ 4,750,550 $ 4,296,300
Total liabilities and stockholders' equity $13,135,650 $12,700,900
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