Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

night Owl, Inc. reported the following data: Increase (Decrease) (in millions) 2019 2018 Amount Percentage Assets Current assets: Cash $10,000 $7,200 $2,800 38.9% Accounts receivable,

night Owl, Inc. reported the following data: Increase (Decrease) (in millions) 2019 2018 Amount Percentage Assets Current assets: Cash $10,000 $7,200 $2,800 38.9% Accounts receivable, net 15,600 16,800 (1,200) (7.1)% Merchandise inventory 38,000 31,000 7,000 22.6% Total current assets 63,600 55,000 8,600 15.6% Property, plant and equipment, net 195,000 168,000 27,000 16.1% Other long-term assets 15,000 27,100 (12,100) (44.6%) Total assets $273,600 $250,100 $23,500 9.4% Liabilities Current liabilities: Accounts payable $8500 $7,300 $1,200 16.4% Other current liabilities 1,100 3,900 (2,800) (71.8)% Total current liabilities 9,600 11,200 (1,600) (14.3)% Long-term notes payable 54,700 30,100 24,600 81.7% Total liabilities $64,300 $41,300 $23,000 55.7% Stockholders' Equity Common stock $12,000 $12,000 $0 0.0% Paid-in capital in excess of par 149,000 149,000 0 0.0% Retained earnings 48,300 47,800 500 1% Total stockholders' equity 209,300 208,800 500 0.2% Total liabilities and stockholders' equity $273,600 $250,100 $23,500 9.4% The horizontal analysis shows that the amount of total liabilities has __________.

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

Principles Of International Auditing And Assurance

Authors: Rick Hayes, Philip Wallage, Peter Eimers

4th Edition

9463720065, 978-9463720069

More Books

Students also viewed these Accounting questions

Question

1. Identify six different types of history.

Answered: 1 week ago

Question

2. Define the grand narrative.

Answered: 1 week ago

Question

4. Describe the role of narratives in constructing history.

Answered: 1 week ago