Question
Happy Days, Inc. Comparative Balance Sheet June 30, 2019 and 2018 Assets Increase (Decrease) 2019 2018 Amount Percent Current assets $266,000 $190,000 Property, plant, and
Happy Days, Inc.
Comparative Balance Sheet
June 30, 2019 and 2018
| Assets |
| Increase (Decrease) | ||
| 2019 | 2018 | Amount | Percent | |
| Current assets | $266,000 | $190,000 |
|
|
| Property, plant, and equipment | 428,000 | 405,000 |
|
|
| Intangible assets | 24,000 | 31,000 |
|
|
| Total Assets | $718,000 |
|
$92,000 |
14.7% |
|
|
|
|
|
|
| Liabilities
|
|
|
|
|
| Current liabilities | $81,000 | $85,000 |
|
|
| Long-term liabilities | 240,000 | 278,000 |
|
|
| Total Liabilities | $321,000 |
|
$(42,000) |
(11.6%) |
| Stockholders Equity |
|
|
|
|
| Common stock | $276,000 | $210,000 |
|
|
| Retained earnings | 121,000 | 53,000 |
|
|
| Total Stockholders Equity | $397,000 |
|
$134,000 |
51.0% |
| Total Liabilities & Stockholders Equity | $718,000 |
|
$92,000 |
14.7% |
- Prepare a comparative balance sheet (horizontal analysis) for June 30, 2019 and 2018. (Round percentages to one decimal place.)
- Interpret your findings: Focus on two accounts you find most interesting and explain why. What may have caused the accounts to change?
- Vertical Analysis: In 2019 -- Current Assets are what % of Total Assets? _____________
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