Question
Here is financial information for Larkspur, Inc. December 31, 2022 December 31, 2021 Current assets $108,600 $93,500 Plant assets (net) 403,500 352,600 Current liabilities 102,500
Here is financial information for Larkspur, Inc. December 31, 2022 December 31, 2021 Current assets $108,600 $93,500 Plant assets (net) 403,500 352,600 Current liabilities 102,500 67,600 Long-term liabilities 124,600 93,500 Common stock, $1 par 132,600 117,600 Retained earnings 152,400 167,400 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, e.g. 12.1%.) LARKSPUR, INC. Condensed Balance Sheet December 31 2022 2021 Increase or (Decrease) Amount Percentage Assets Current Assets $108,600 $93,500 $ Plant assets (net) 403,500 352,600 Total assets $512,100 $446,100 $ % % % Liabilities Current Liabilities $102,500 $67,600 $ % Long-term liabilities 124,600 93,500 % Total liabilities $227,100 $161,100 $ % Stockholders' Equity Common stock, $1 par 132,600 117,600 % Retained earnings 152,400 167,400 % Total stockholders' equity 285,000 285,000 % Total liabilities and $512,100 $446,100 $ % stockholders' equity
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