Exercise 18-03 (Video)

Here is financial information for Glitter Inc.

		December 31, 2020		December 31, 2019
Current assets		$124,200		$100,000
Plant assets (net)		394,630		335,000
Current liabilities		88,416		72,000
Long-term liabilities		131,924		86,000
Common stock, $1 par		165,945		115,000
Retained earnings		132,545		162,000

Prepare a schedule showing a horizontal analysis for 2020, using 2019 as the base 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 1 decimal place, e.g. 12.3%.)

GLITTER INC. Condensed Balance Sheets December 31
							Increase or (Decrease)
		2020		2019			Amount		Percentage
Assets
Current assets		$124,200		$100,000			$		%
Plant assets (net)		394,630		335,000					%
Total assets		$518,830		$435,000			$		%
Liabilities
Current liabilities		$88,416		$72,000			$		%
Long-term liabilities		131,924		86,000					%
Total liabilities		220,340		158,000					%
Stockholders' Equity
Common stock, $1 par		165,945		115,000					%
Retained earnings		132,545		162,000					%
Total stockholders' equity		298,490		277,000					%
Total liabilities and stockholders' equity		$518,830		$435,000			$		%