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Pinnacle Plus declared and paid a cash dividend of $6,200 in the current year. Its comparative financial statements, prepared at December 31, reported the following
Pinnacle Plus declared and paid a cash dividend of $6,200 in the current year. Its comparative financial statements, prepared at December 31, reported the following summarized information: Required: 1. Complete the two final columns shown beside each item in Pinnacle Plus's comparative financial statements. 2-a. Which account increased by the largest dollar amount? 2-b. Which account increased by the largest percentage? Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Complete the two final columns shown beside each item in Pinnacle Plus's comparative financial statements. (Decreases should be indicated by a minus sign. Round percentage values to 1 decimal place.) PINNACLE PLUS Horizontal Analysis Income Statement Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Interest Expense Income before Income Tax Expense Increase (Decrease) Current Year Previous Year in the Current year (versus Previous year) Amount Percentage $ 124,000 $ 108,800 % 54,800 49,400 % 69,200 59,400 % 34,000 31,400 % 3,600 3,600 % 31,600 24,400 % 9,480 7,320 % $ 22,120 $ 17,080 % Income Tax Expense (30%) Net Income Balance Sheet Cash $ 74,620 $ 38,400 % Accounts Receivable, Net 17,800 10,800 % Inventory 24,600 37,200 % Property and Equipment, Net 94,600 103,000 % Total Assets $ 211,620 $ 186,400 % Accounts Payable $ 44,800 $ 36,400 % Income Tax Payable 1,800 900 % Notes Payable (long-term) 36,000 36,000 % Total Liabilities 82,600 73,300 % Common Stock (par $10) 86,000 86,000 % Retained Earnings 43,020 27,100 Total Liabilities and Stockholders' Equity $ 211,620 $ 186,400 % < Req 1 Req 2A > Pinnacle Plus declared and paid a cash dividend of $6,200 in the current year. Its comparative financial statements, prepared at December 31, reported the following summarized information: Required: 1. Complete the two final columns shown beside each item in Pinnacle Plus's comparative financial statements. 2-a. Which account increased by the largest dollar amount? 2-b. Which account increased by the largest percentage? Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Which account increased by the largest dollar amount? Account < Req 1 Req 2B > Pinnacle Plus declared and paid a cash dividend of $6,200 in the current year. Its comparative financial statements, prepared at December 31, reported the following summarized information: Required: 1. Complete the two final columns shown beside each item in Pinnacle Plus's comparative financial statements. 2-a. Which account increased by the largest dollar amount? 2-b. Which account increased by the largest percentage? Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Which account increased by the largest percentage? Account < Req 2A Req 2B >
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