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Exercise 13-03 Here is financial information for Sage Hill Inc. December 31, 2021 December 31, 2022 Current assets $109,300 93,800 Plant assets (net) 403,800 353,300
Exercise 13-03 Here is financial information for Sage Hill Inc. December 31, 2021 December 31, 2022 Current assets $109,300 93,800 Plant assets (net) 403,800 353,300 102,800 68,300 Current liabilities 93,800 Long-term liabilities 125,300 Common stock, $1 par 133,300 118,300 Retained earnings 151,700 166,700 Prepare a schedule showing a horizontal analysis for 2022, using 2021 as the base year. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.1%.) SAGE HILL INC. Condensed Balance Sheet December 31 Increase or (Decrease) Percentage 2022 2021 Amount Assets $109,300 $93,800 % Current Assets 403,800 Plant assets (net) 353,300 % $513,100 $447,100 % Total assets Liabilities $102,800 $68,300 % Current Liabilities 125,300 93,800 % Long-term liabilities $228,100 $162,100 % Total liabilities $ Stockholders' Equity Common stock, $1 par % 133,300 118,300 151,700 166,700 Retained earnings 96 EA 285,000 Total stockholders' equity 285,000 % $513,100 $447,100 Total liabilities and stockholders' equity % $ Open Show Work Click if you would like to Show Work for this
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