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Horizontal Method Assets Current assets Plant assets (net) Intangible assets Total assets Liabilities Current liabilities Long-term liabilities Total liabilities Stockholders' Equity Common stock Retained Earnings
Horizontal Method Assets Current assets Plant assets (net) Intangible assets Total assets Liabilities Current liabilities Long-term liabilities Total liabilities Stockholders' Equity Common stock Retained Earnings Total stockholders' equity Total liabilities & Stockholders Required: Fill the yellow area Vertical Method Sales revenue Sales returns and allowances Net Sales CGS Gross profit Selling expenses Administrative expenses Total operating expenses Income from operations Other revenues and gains: Interest and dividends Other Expenses and losses: Interest expense Income before income taxes Income tax expense Net Income Universal Deparment Store Inc. Condensed Balance Sheets December 31, 2018 2018 $3,855,000 $2,776,400 $810,000 $750,032 $75,000 $35,000 $4,740,000 $3,561,432 $356,000 $250,986 $587,500 $497,000 $943,500 $747,986 $315,000 $225,000 $3,481,500 $2,588,446 $3,796,500 $2,813,446 $4,740,000 $3,561,432 2017 2018 Universal Deparment Store Inc. Condensed Income Statements For the Years Ended December 31, 2018 Amount Percent $4,765,000 $107,000 $4,658,000 $2,100,000 $2,558,000 $253,066 $112,000 $365,066 $2,192,934 $19,000 $36,000 $2,175,934 $168, 200 $2,007,734 Increase or (Decrease) during 2018 Amount Percent 2017 Amount $2,010,000 $103,000 $1,907,000 $1,030,000 $877,000 $210,500 $101,500 $312,000 $565,000 $11,000 $40,500 $535,500 $39,000 $496,500 Percent
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