Question
Question 1 Here is financial information for Marin Inc. December 31, 2022 December 31, 2021 Current assets $111,150 $ 95,000 Plant assets (net) 428,274 378,000
Question 1
Here is financial information for Marin Inc.
| December 31, 2022 | December 31, 2021 | |||
|---|---|---|---|---|
| Current assets | $111,150 | $ 95,000 | ||
| Plant assets (net) | 428,274 | 378,000 | ||
| Current liabilities | 94,488 | 62,000 | ||
| Long-term liabilities | 123,936 | 90,000 | ||
| Common stock, $1 par | 133,497 | 117,000 | ||
| Retained earnings | 187,503 | 204,000 |
Prepare a schedule showing a horizontal analysis for 2022, using 2021 as the base year. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.1%.)
| MARIN INC. Condensed Balance Sheet December 31 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Increase or (Decrease) | ||||||||||
| 2022 | 2021 | Amount | Percentage | |||||||
| Assets | ||||||||||
| Current Assets | $111,150 | $95,000 | $enter a dollar amount | enter percentages rounded to 1 decimal place | % | |||||
| Plant assets (net) | 428,274 | 378,000 | enter a dollar amount | enter percentages rounded to 1 decimal place | % | |||||
| Total assets | $539,424 | $473,000 | $enter a total amount for this part of the balance sheet | enter percentages rounded to 1 decimal place | % | |||||
| Liabilities | ||||||||||
| Current Liabilities | $94,488 | $62,000 | $enter a dollar amount | enter percentages rounded to 1 decimal place | % | |||||
| Long-term liabilities | 123,936 | 90,000 | enter a dollar amount | enter percentages rounded to 1 decimal place | % | |||||
| Total liabilities | $218,424 | $152,000 | $enter a total of the two previous amounts | enter percentages rounded to 1 decimal place | % | |||||
| Stockholders Equity | ||||||||||
| Common stock, $1 par | 133,497 | 117,000 | enter a dollar amount | enter percentages rounded to 1 decimal place | % | |||||
| Retained earnings | 187,503 | 204,000 | enter a dollar amount | enter percentages rounded to 1 decimal place | % | |||||
| Total stockholders equity | 321,000 | 321,000 | enter a total of the two previous amounts | enter percentages rounded to 1 decimal place | % | |||||
| Total liabilities and stockholders equity | $539,424 | $473,000 | $enter a total amount for this part of the balance sheet | enter percentages rounded to 1 decimal place | % | |||||
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