Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Here is financial information for Tamarisk, Inc. December 31, 2022 December 31, 2021 Current assets $103,443 $87,000 Plant assets (net) 407,100 354,000 Current liabilities 100,100

Here is financial information for Tamarisk, Inc. December 31, 2022 December 31, 2021 Current assets $103,443 $87,000 Plant assets (net) 407,100 354,000 Current liabilities 100,100 65,000 Long-term liabilities 129,443 95,000 Common stock, $1 par 140,368 124,000 Retained earnings 140,632 157,000 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%.) Assets Current Assets 2022 2021 $103,443 $87,000 TAMARISK, INC. Condensed Balance Sheet December 31 Increase or (Decrease) Amount Percentage % Plant assets 407,100 354,000 (net) % Total assets $510,543 $441,000 $ 96 Liabilities Current $100,100 $65,000 $ Liabilities % Long-term liabilities 129,443 95,000 Total $229,543 $160,000 % liabilities Stockholders' Equity Common 140,368 124,000 stock, SI par Retained 140,632 157,000 earnings Total stockholders' 281,000 281,000 % equity Total liabilities and $510,543 $441,000 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

More Books

Students also viewed these Accounting questions

Question

7. What decisions would you make as the city manager?

Answered: 1 week ago

Question

8. How would you explain your decisions to the city council?

Answered: 1 week ago