Exercise 13-3 Here is financial information for Sage Hill Inc. December 31, 2017 December 31, 2016 Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock, $1 par Retained earnings $109,300 403,800 102,800 125,300 133,300 151,700 $ 93,800 353,300 68,300 93,800 118,300 166,700 Prepare a schedule showing a horizontal analysis for 2017, using 2016 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%.) Prepare a schedule showing a horizontal analysis for 2017, using 2016 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) Amount Percentage 2017 2016 Assets Current Assets $109,300 $93,800 Plant assets (net) 403,800 353,300 Total assets $513,100 $447,100 Liabilities Current Liabilities $102,800 $68,300 Long-term liabilities 125,300 93,800 Total liabilities $228,100 $162,100 Stockholders' Equity Common stock, $1 par 133,300 118,300 Retained earnings 151,700 166,700 Total stockholders' equity 285,000 285,000 Total liabilities and stockholders' equity $513,100 $447,100