Question
Here is financial information for Glitter Inc. December 31, 2020 December 31, 2019 Current assets $124,600 $100,000 Plant assets (net) 394,272 333,000 Current liabilities 89,568
Here is financial information for Glitter Inc.
December 31, 2020 | December 31, 2019 | |||
---|---|---|---|---|
Current assets | $124,600 | $100,000 | ||
Plant assets (net) | 394,272 | 333,000 | ||
Current liabilities | 89,568 | 72,000 | ||
Long-term liabilities | 127,977 | 87,000 | ||
Common stock, $1 par | 166,656 | 112,000 | ||
Retained earnings | 134,671 | 162,000 |
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 | $124,600 | $100,000 | $enter a dollar amount | enter a percentage number rounded to 1 decimal place % | ||||||
Plant assets (net) | 394,272 | 333,000 | enter a dollar amount | enter a percentage number rounded to 1 decimal place % | ||||||
Total assets | $518,872 | $433,000 | $enter a total amount for the first part of the balance sheet | enter a percentage number rounded to 1 decimal place % | ||||||
Liabilities | ||||||||||
Current liabilities | $89,568 | $72,000 | $enter a dollar amount | enter a percentage number rounded to 1 decimal place % | ||||||
Long-term liabilities | 127,977 | 87,000 | enter a dollar amount | enter a percentage number rounded to 1 decimal place % | ||||||
Total liabilities | 217,545 | 159,000 | 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 | 166,656 | 112,000 | enter a dollar amount | enter a percentage number rounded to 1 decimal place % | ||||||
Retained earnings | 134,671 | 162,000 | enter a dollar amount | enter a percentage number rounded to 1 decimal place % | ||||||
Total stockholders' equity | 301,327 | 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 | $518,872 | $433,000 | $enter a total amount for the second part of the balance sheet | enter a percentage number rounded to 1 decimal place % |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started