Question
(Horizontal and Vertical Analysis) Presented below is the comparative balance sheet for Gilmour Company Instructions (Round to two decimal places.) (a) Prepare a comparative balance
(Horizontal and Vertical Analysis) Presented below is the comparative balance sheet for Gilmour Company
Instructions (Round to two decimal places.) (a) Prepare a comparative balance sheet of Gilmour Company showing the percent each item is of the total assets or total liabilities and stockholders equity. (b) Prepare a comparative balance sheet of Gilmour Company showing the dollar change and the percent change for each item. (c) Of what value is the additional information provided in part (a)? (d) Of what value is the additional information provided in part (b)?
GILMOUR COMPANY COMPARATIVE BALANCE SHEET As oF DECEMBER 31, 2015 AND 2014 December 31 2015 2014 Assets Cash Accounts receivable (net) Short-term investments Inventories Prepaid expenses Plant & equipment Accumulated depreciation $ 180,000 220,000 270,000 1,060,000 25,000 2,585,000 (1,000,000) $3,340,000 275,000 155,000 150,000 980,000 25,000 1,950,000 (750,000) $2,785,000 Liabilities and Stockholders' Equity Accounts payable Accrued expenses Bonds payable Capital stock Retained earnings $50,000 170,000 450,000 2,100,000 570,000 $3,340,000 $ 75,000 200,000 190,000 1,770,000 550,000 $2,785,000Step by Step Solution
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