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Here is financial information for Glitter Inc. Current assets December 31, 2020 $123,000 394,416 86,265 Plant assets (net) Current liabilities Long-term liabilities Common stock, $1
Here is financial information for Glitter Inc. Current assets December 31, 2020 $123,000 394,416 86,265 Plant assets (net) Current liabilities Long-term liabilities Common stock, $1 par Retained earnings December 31, 2019 $100,000 332,000 71,000 88,000 120,000 153,000 130,680 165,960 134,511 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%.) 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) 2019 Amount Percentage 2020 Assets Current assets $123,000 $100,000 $ 23,000 23.00 % Plant assets (net) 394,416 332,000 % Total assets $517,416 $432,000 $ % Liab Current liabilities $86,265 $71,000 $ % Long-term liabilities 130,680 88,000 % Total liabilities 216,945 159,000 % Stockholders' Equity Common stock, $1 par 165,960 120,000 % Retained earnings 134,511 153,000 % Total stockholders' equity 300,471 273,000 % Total liabilities and stockholders' equity $517,416 $432,000 $ %
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