Question
Here is financial information for Sheffield Inc. December 31, 2022 December 31, 2021 Current assets $124,200 $100,000 Plant assets (net) 394,630 335,000 Current liabilities 88,416
Here is financial information for Sheffield Inc.
December 31, 2022 | December 31, 2021 | |||||
---|---|---|---|---|---|---|
Current assets | $124,200 | $100,000 | ||||
Plant assets (net) | 394,630 | 335,000 | ||||
Current liabilities | 88,416 | 72,000 | ||||
Long-term liabilities | 131,924 | 86,000 | ||||
Common stock, $1 par | 165,945 | 115,000 | ||||
Retained earnings | 132,545 | 162,000 |
Prepare a schedule showing a horizontal analysis for 2022, using 2021 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%.)
SHEFFIELD INC. Condensed Balance Sheets December 31 | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|
Increase or (Decrease) | ||||||||||
2022 | 2021 | Amount | Percentage | |||||||
Assets | ||||||||||
Current assets | $124,200 | $100,000 | $enter a dollar amount | enter percentages rounded to 1 decimal place % | ||||||
Plant assets (net) | 394,630 | 335,000 | enter a dollar amount | enter percentages rounded to 1 decimal place % | ||||||
Total assets | $518,830 | $435,000 | $enter a total amount for this part of the balance sheet | enter percentages rounded to 1 decimal place % | ||||||
Liabilities | ||||||||||
Current liabilities | $88,416 | $72,000 | $enter a dollar amount | enter percentages rounded to 1 decimal place % | ||||||
Long-term liabilities | 131,924 | 86,000 | enter a dollar amount | enter percentages rounded to 1 decimal place % | ||||||
Total liabilities | 220,340 | 158,000 | enter a total of the two previous amounts | enter percentages rounded to 1 decimal place % | ||||||
Stockholders' Equity | ||||||||||
Common stock, $1 par | 165,945 | 115,000 | enter a dollar amount | enter percentages rounded to 1 decimal place % | ||||||
Retained earnings | 132,545 | 162,000 | enter a dollar amount | enter percentages rounded to 1 decimal place % | ||||||
Total stockholders' equity | 298,490 | 277,000 | enter a total of the two previous amounts | enter percentages rounded to 1 decimal place % | ||||||
Total liabilities and stockholders' equity | $518,830 | $435,000 | $enter a total amount for this part of the balance sheet | enter percentages rounded to 1 decimal place % |
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