Exercise 18-03

Exercise 18-03 (Video) Here is financial information for Glitter Inc. December 31, 2020 December 31, 2019 Current assets $124,600 $100,000 Plantes net) 394,800 329.000 Current liabilities 85,994 73,000 Long term labilities 128,829 86,000 Common stock, 51 par 166,026 118,000 Retained earnings 138,552 152,000 Prepare a schedule showing a horizontal analysis for 2020, using 2019 as the bose year. (Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45, -45% or parentheses e.g. (45), (45%). Round percentages to i decimal place, e.g. 12.3%) GLITTER INC. Condensed Balance Sheets December 31 Increase or (Decrease) Amount Percentage 2020 2019 Assets Current assets $124,600 $100,000 $ % Plant assets (net) 394,800 329,000 % Total assets $519,400 $429,000 $ % Liabilities Current liabilities $85,994 $73,000 % Long-term liabilities 128,828 86,000 % 214,822 159,000 % Total liabilities Stockholders' Equity Common stock, $1 par Retained earnings 166,026 118,000 % 138,552 152,000 % Total stockholders' equity 304,578 270,000 % Total liabilities and stockholders' equity $519,400 $429,000 tA %