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Here is financial information for Glitter Inc. December 31, 2020 December 31, 2019 Current assets $123,000 $100,000 Plant assets (net) 395,300 335,000 Current liabilities 89,279

Here is financial information for Glitter Inc.

December 31, 2020

December 31, 2019

Current assets $123,000 $100,000
Plant assets (net) 395,300 335,000
Current liabilities 89,279 73,000
Long-term liabilities 130,592 88,000
Common stock, $1 par 166,959 117,000
Retained earnings 131,470 157,000

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

$123,000

$100,000

$enter a dollar amount

enter a percentage number rounded to 1 decimal place %

Plant assets (net)

395,300 335,000 enter a dollar amount

enter a percentage number rounded to 1 decimal place %

Total assets

$518,300 $435,000

$enter a total amount for the first part of the balance sheet

enter a percentage number rounded to 1 decimal place %

Liabilities

Current liabilities

$89,279

$73,000

$enter a dollar amount

enter a percentage number rounded to 1 decimal place %

Long-term liabilities

130,592 88,000 enter a dollar amount

enter a percentage number rounded to 1 decimal place %

Total liabilities

219,871 161,000 enter a total amount for section one of the second part of the balance sheet

enter a percentage number rounded to 1 decimal place %

Stockholders' Equity

Common stock, $1 par

166,959

117,000

enter a dollar amount

enter a percentage number rounded to 1 decimal place %

Retained earnings

131,470 157,000 enter a dollar amount

enter a percentage number rounded to 1 decimal place %

Total stockholders' equity

298,429 274,000 enter a total amount for section two of the second part of the balance sheet

enter a percentage number rounded to 1 decimal place %

Total liabilities and stockholders' equity

$518,300 $435,000 $enter a total amount for the second part of the balance sheet

enter a percentage number rounded to 1 decimal place %

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