Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Here is financial information for Metlock, Inc. December 31, 2022 December 31, 2021 Current assets $110,200 $93,900 Plant assets (net) 403,900 354,200 Current liabilities 102,900

image text in transcribed

image text in transcribed

image text in transcribed

Here is financial information for Metlock, Inc. December 31, 2022 December 31, 2021 Current assets $110,200 $93,900 Plant assets (net) 403,900 354,200 Current liabilities 102,900 69,200 Long-term liabilities 126,200 93,900 Common stock, $1 par 134,200 119,200 Retained earnings 150,800 165,800 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, e.g. 12.1%.) METLOCK, INC. Condensed Balance Sheet December 31 Increase or (Decrease) 2022 2021 Amount Percentage Assets % Current Assets $110,200 $93,900 % Plant assets (net) 403,900 354,200 % Total assets $514,100 $448,100 Liabilities % Current Liabilities $102,900 $69,200 % Long-term liabilities 126,200 93,900 % $229,100 Total liabilities $ $163,100 Stockholders' Equity Stockholders' Equity Common stock, $1 par 134,200 119,200 % Retained earnings 150,800 165,800 % Total stockholders' equity 285,000 285,000 % Total liabilities and stockholders' equity $514,100 $448,100 $ %

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

Intermediate Accounting 2007 FASB Update Volume 1

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

12th Edition

0470128755, 978-0470128756

More Books

Students also viewed these Accounting questions

Question

1. Walk to the child, look into his or her eyes.

Answered: 1 week ago