Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Here is financial information for Kingbird, Inc. December 31, 2022 December 31, 2021 Current assets $110,205 $ 93,000 Plant assets (net) 403,066 354,200 Current liabilities

image text in transcribedimage text in transcribed

Here is financial information for Kingbird, Inc. December 31, 2022 December 31, 2021 Current assets $110,205 $ 93,000 Plant assets (net) 403,066 354,200 Current liabilities 102,070 69,200 Long-term liabilities 126,201 93,000 Common stock, $1 par 133,073 119,200 Retained earnings 151,927 165,800 Prepare a schedule showing a horizontal analysis for 2022, using 2021 as the base year. (If amount and percentage are a decrease show the numbers as negative, e.g. -55.000.-20% or (55,000). (20%). Round percentages to 1 decimal place, eg. 12.12.) KINGBIRD, INC. Condensed Balance Sheet December 31 Increase or (Decrease) 2022 2021 Amount Percentage Assets Current Assets $110.205 $93,000 $ Plant assets 403,066 354,200 (net) Total assets $513.271 $447,200 $ Liabilities Current $102,070 $69,200 $ Liabilities Long-term liabilities 126,201 93,000 Total liabilities $228,271 $162,200 $ Stockholders' Equity Common 133.073 119,200 stock, $1 par Retained earnings 151.927 165,800 Total stockholders' 285.000 285,000 equity Total liabilities and $513.271 $447,200 $ stockholders' equity

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

My Favorite Auditor Gave Me This Book

Authors: Funny Planner Publishing

1st Edition

1676058060, 978-1676058069

More Books

Students also viewed these Accounting questions

Question

What is control and what are six reasons control is needed?

Answered: 1 week ago

Question

b. Where did they come from?

Answered: 1 week ago