Question
Suppose the comparative balance sheets of Larkspur, Inc. are presented here. LARKSPUR, INC. Condensed Balance Sheet May 31 ($ in millions) 2017 2016 Assets Current
Suppose the comparative balance sheets of Larkspur, Inc. are presented here.
LARKSPUR, INC. Condensed Balance Sheet May 31 ($ in millions) | ||||
---|---|---|---|---|
2017 | 2016 | |||
Assets | ||||
Current Assets | $9,880 | $8,900 | ||
Property, plant, and equipment (net) | 1,840 | 1,800 | ||
Other assets | 1,530 | 1,620 | ||
Total assets | $13,250 | $12,320 | ||
Liabilities and Stockholders' Equity | ||||
Current Liabilities | $3,260 | $3,380 | ||
Long-term liabilities | 1,250 | 1,300 | ||
Stockholders equity | 8,740 | 7,640 | ||
Total liabilities and stockholders' equity | $13,250 | $12,320 |
(a) Prepare a horizontal analysis of the balance sheet data for Larkspur, using 2016 as a base. (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%.)
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