Question
Here is financial information for Glitter Inc. December 31, 2020 December 31, 2019 Current assets $123,000 $100,000Plant assets (net) 395,300 335,000Current liabilities 89,279 73,000Long-term liabilities
Here is financial information for Glitter Inc.
December 31, 2020
December 31, 2019
Current assets
$123,000
$100,000Plant assets (net)
395,300
335,000Current liabilities
89,279
73,000Long-term liabilities
130,592
88,000Common stock, $1 par
166,959
117,000Retained earnings
131,470
157,000
Show 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
$
%
Plant assets (net)
395,300
335,000
%
Total assets
$518,300
$435,000
$
%
Liabilities
Current liabilities
$89,279
$73,000
$
%
Long-term liabilities
130,592
88,000
%
Total liabilities
219,871
161,000
%
Stockholders' Equity
Common stock, $1 par
166,959
117,000
%
Retained earnings
131,470
157,000
%
Total stockholders' equity
298,429
274,000
%
Total liabilities and stockholders' equity
$518,300
$435,000
$
%
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Essentials Of Accounting For Governmental And Not-for-Profit Organizations
Authors: Paul Copley
14th Edition
1260570177, 978-1260570175
