Question
Here is financial information for Glitter Inc. December 31, 2020 December 31, 2019 Current assets $124,600 $100,000 Plant assets (net) 394,800 329,000 Current liabilities 85,994
Here is financial information for Glitter Inc.
December 31, 2020 | December 31, 2019 | |||
Current assets | $124,600 | $100,000 | ||
Plant assets (net) | 394,800 | 329,000 | ||
Current liabilities | 85,994 | 73,000 | ||
Long-term liabilities | 128,828 | 86,000 | ||
Common stock, $1 par | 166,026 | 118,000 | ||
Retained earnings | 138,552 | 152,000 |
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 | $ | % | ||||||
Plant assets (net) | 394,800 | 329,000 | % | |||||||
Total assets | $519,400 | $429,000 | $ | % | ||||||
Liabilities | ||||||||||
Current liabilities | $85,994 | $73,000 | $ | % | ||||||
Long-term liabilities | 128,828 | 86,000 | % | |||||||
Total liabilities | 214,822 | 159,000 | % | |||||||
Stockholders' Equity | ||||||||||
Common stock, $1 par | 166,026 | 118,000 | % | |||||||
Retained earnings | 138,552 | 152,000 | % | |||||||
Total stockholders' equity | 304,578 | 270,000 | % | |||||||
Total liabilities and stockholders' equity | $519,400 | $429,000 | $ | % |
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