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help ! December 31, 2021 Current assets $120.120 December 31, 2020 $84,000 366,000 422.730 94.470 67,000 Property, plant and equipment Current liabilities Long-term liabilities Common
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December 31, 2021 Current assets $120.120 December 31, 2020 $84,000 366,000 422.730 94.470 67,000 Property, plant and equipment Current liabilities Long-term liabilities Common stock $1 par Retained earnings 138,460 92,000 153.270 117.000 156,650 174,000 Prepare a horizontal analysifor 2021 using 2020 as the base year. (Round percentages to 1 decimal place, es. 12.1%. Enter negative amounts using either a negativ sin preceding the number es. 45 or parentheses es (451) CRANEEXPRESS INC Condensed Balance Sheet December 31 Increase or (Decrease) Assets 2021 2020 Amount Percentage Current assets $120,120 $84,000 $ % Property, plant and equipment 422,730 366.000 Total assets $542.850 $450,000 $ Liabilities Current liabilities $94.470 $67.000 $ % Long-term abilities 138,460 92.000 % Total liabilities $232.930 $159.000 $ Stockholders' Equity % Common Stock 51 par $153.270 $117.000 $ Retained earnings 156,650 174,000 Total stockholders' equity * 309.920 291.000 Total abilities and stockholders equity $542.850 $450.000 $ Savo Operating data for Cullumber Land Corporation are presented below, December 31, 2021 $870,000 494,160 Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense December 31, 2020 $670,000 404,010 91,790 133.980 93,960 67,670 37.410 38.190 Net income 110.490 68.340 Prepare a schedule showing a vertical analysis for 2021 and 2020. (Round percentages to 1 decimal place, as 12.1%) CULLUMBERLAND COMPANY Condensed Income Statement For the Years Ended December 31 2021 2020 Amount Percentage Amount Percentage Sales revenue $870.000 % 5670,000 % Cost of goods sold 494.160 404.010 % Gross profit 375,840 % 265,990 96 Selling expenses 133,980 % 91,790 % Administrative expenses 93,960 % 67,670 96 Total operating expenses 227.940 % 159.460 % Income before income taxes 147.900 106.530 Income tax expense 37.410 X 38.190 96 Net Income $110.490 X $68.340 56 Operating data for Cullumber Land Corporation are presented below: December 31, 2021 December 31, 2020 Sales revenue $870.000 $670,000 Cost of goods sold 494,160 404,010 133,980 91,790 Selling expenses Administrative expenses 93.960 67,670 Income tax expense 37.410 38,190 Net income 110.490 68,340 Prepare a schedule showing a vertical analysis for 2021 and 2020. (Round percentages to 1 decimal place, s. 121%) CULLUMBERLAND COMPANY Condensed Income Statement For the Years Ended December 31 2021 2020 Amount Percentage Amount Percentage Sales revenue $870,000 % $670,000 % Cost of goods sold 494,160 % 404,010 % Gross profit 375,840 % 265,990 %6 Selling expenses 133,980 96 91,790 % Administrative expenses 93,960 % 67.670 % Total operating expenses 227.940 % 159,460 % Income before income taxes 147.900 % 106,530 % Income tax expense 37.410 % 38,190 % Net income $110.490 % $68,340 %6 Step by Step Solution
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