Question
Here is financial information for Glitter Inc. December 31, 2020 December 31, 2019 Current assets $122,600 $100,000 Plant assets (net) 394,350 330,000 Current liabilities 85,968
Here is financial information for Glitter Inc.
December 31, 2020 | December 31, 2019 | |||
---|---|---|---|---|
Current assets | $122,600 | $100,000 | ||
Plant assets (net) | 394,350 | 330,000 | ||
Current liabilities | 85,968 | 72,000 | ||
Long-term liabilities | 133,902 | 86,000 | ||
Common stock, $1 par | 166,210 | 110,000 | ||
Retained earnings | 130,870 | 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 | $122,600 | $100,000 | $enter a dollar amount | enter a percentage number rounded to 1 decimal place % | ||||||
Plant assets (net) | 394,350 | 330,000 | enter a dollar amount | enter a percentage number rounded to 1 decimal place % | ||||||
Total assets | $516,950 | $430,000 | $enter a total amount for the first part of the balance sheet | enter a percentage number rounded to 1 decimal place % | ||||||
Liabilities | ||||||||||
Current liabilities | $85,968 | $72,000 | $enter a dollar amount | enter a percentage number rounded to 1 decimal place % | ||||||
Long-term liabilities | 133,902 | 86,000 | enter a dollar amount | enter a percentage number rounded to 1 decimal place % | ||||||
Total liabilities | 219,870 | 158,000 | 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 | 166,210 | 110,000 | enter a dollar amount | enter a percentage number rounded to 1 decimal place % | ||||||
Retained earnings | 130,870 | 162,000 | enter a dollar amount | enter a percentage number rounded to 1 decimal place % | ||||||
Total stockholders' equity | 297,080 | 272,000 | 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 | $516,950 | $430,000 | $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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