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please need urgent help on this thank you Requirement Prepare a vertical analysis on the partial balance sheets for 2017 and 2018. Enter decreases as
please need urgent help on this thank you
Requirement Prepare a vertical analysis on the partial balance sheets for 2017 and 2018. Enter decreases as negative amounts/percents J. Kruk Inc Partial Balanc Sheet (Horizontal Analysis) For the years ended December 31, 2018 and 2017 Increaseldecrease 2018 2017 Amount Percent Current assets: Cash Accounts receivable (net) Inventory Prepaid expenses Other current assets accumulated depreciation Total plant assets J. Kruk Inc. Income Statement For years ended December 31, 2017 and 2018 J. Kruk Inc. Comparative Balance Sheets December 31, 2018 and 2017 2018 2017 Change 2018 2017 Current assets: $683,000 $649,000 (363,000 (298,000) 320,000 3000 Sales (all on credit) Cash Accounts receivable (net) Inventory Prepaid expenses Other current assets $95,850 41,000 46,000 1,800 $60,100 $35.750 34,000 7000 44,000 2,000 4,000 -2,200 3,900 1350 146,000 41.200 Cost of goods sold Gross margin Depreciation expense Other operating expenses Total operating expenses Operating income 37000 52,000 147000 122000 Total current assets 184,000 174,000 136,000 177000 Long-term Investments84,000 187.200 58,000 26,000 259,000 51000 (78,600) (52.000) 26,600 231400 202000 24400 502600 411000 91600 Other income 310,000 Plant assets Less: accumulated depreciation (expenses) (4,800) (3,600) 6,800 4800Total plant assets (4000) (4800) Total assets (15,600) (3,600) Interest expense Gain on sale of nvestments Loss on sale of plant Total other income expenses) Current liabilities: Other income (expenses) Plant assets Interest expense Gain on sale of investments Loss on sale of plant assets Total other income expenses) (4,800) (3.600) Less: accumulated 6,800 4,800 Total plant assets (4,000) (4,800) Total assets (15,600)(3,600) 310,000 259,000 51000 (78,600) (52,000) 26,600 207000 24.400 411000 91600 depreciation 231.400 Current liabilities: Income before income taxes Income taxes expense Net income $28,000 $-600 6.000 1200 12,000 8800 46.000 8,200 134,000 173,400 Accounts payable $27,400 (40.200) (52020) $93,800 $121,380 Accrued liabilities Income taxes payable Total current liabilities 7,200 3,200 37,800 J. Kruk Inc. Statement of Retained Earnings For the year ended December 31, 2018 Long term liabilities 242,000 279,800 180,000 62000 226,000 53.800 Notes Payable Total liabilities Stockholders' equity Common stock, $5 par 2018 2017 $35,000 93,800 121,380 (56,000) (86,380) $0 Ret earnings, Jan.1 Add: net income Deduct: Dividends 120000 30,000 120,000 value Additional paid-in capital 30,000 J. Kruk Inc. Statement of Retained Earnings For the year ended December 31, 2018 Long term liabilities: Notes Payable Total liabilities 242,000 279,800 226,000 53800 180,000 62,000 2018 2017 $35,000 Stockholders' equity 93,800 121,380 Ret. earnings, Jan. 1 Common stock, $5 par value 120,000 0 (56,000)1 (86,380)Additional paid-in capital 30000 30,000 0 72.800 35000 31800 $72800 $35,000 Total stockholders' equity 222,800 185,000 37.800 $502600$411000 $91600 Add: net income 120,000 Deduct: Dividends Increase in retained earnings Ret. earnings, Dec. 31 37800 35.000 Retained earnings Total liabilities and stockholders' equity Other information Shares of common stock outstanding Earnings per share Dividends per share Market price per share, common stock 24,000 24,000 $3.91 $506 $2.33$3.6 $16 $12Step by Step Solution
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