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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) 395,214 331,000 Current liabilities 88,134
Here is financial information for Glitter Inc. December 31, 2020 December 31, 2019 Current assets $123,000 $100,000 Plant assets (net) 395,214 331,000 Current liabilities 88,134 74,000 Long-term liabilities 136,840 88,000 Common stock, $1 par 166,026 118,000 Retained earnings 127,214 151.000 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 $ % Plant assets (net) 395,214 331,000 % Total assets $518,214 $431,000 $ % Liabilities Current liabilities $88,134 $74,000 $ % Liabilities Current liabilities $88,134 $74,000 $ % Long-term liabilities 136,840 88,000 % Total liabilities 224,974 162,000 % Stockholders' Equity Common stock, $1 par 166,026 118,000 % Retained earnings 127,214 151,000 % Total stockholders' equity 293,240 269,000 % Total liabilities and stockholders' equity $518,214 $431,000 $ %
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