Dec. 31, 2017 Dec. 31, 2016 $ 210,500 $ 253,500 Current assets Plant assets 1,362,800 800,200 Total assets $1,573,300 $1,053,700 Compute the amount and percentage changes in 2017 using horizontal analysis, assuming
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- Current assets Cash Accounts receivable Inventory Total Net plant and equipment Total assets Current assets Cash Assets Fixed assets 2017 $ 10,200 30,200 74,600 $ 115,000 Accounts receivable Inventory Total $285,000 $400,000 Assets 2018 Net plant and equipment $ 13,200 38,640 87,120 $ 138,960 $ 341,040 $480,000 $ $ $ 2017 Current liabilities For each account on this company's balance sheet, show the change in the account during 2018 and note whether this change was a source or use of cash. (If there is no action select "None" from the dropdown options. Leave no cells blank - be certain to enter "0" wherever required. A negative answer should be indicated by a minus sign.) Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in Retained earnings surplus Liabilities and Owners' Equity 2017 Total 10,2003 30,200 74,600 115,000 Total liabilities and owners' equity 285,000 Sources/Uses $ $ $ $ 46,000 27,800 $ 73,800 $ 40,000 $ 60,000 226,200 $286,200…Financial information for Sarfaraz Co. is presented below December 31. 2018 December 31, 2017 Current Assets RS. 128,000 Rs. 100,000 Plant Assets 396,000 330,000 Current Liabilities 91,000 70,000 Long- Term Liabilities 138,700 95,000 CommonStockRs.1 par 159,000 115,000 Retained Earning 135,300 150,000 Required: Prepare a schedule showing a horizontal analysis 2018 using 2017 as the base yearview Policies Current Attempt in Progress Using these data from the comparative balance sheet of Cullumber Company, perform vertical analysis. (Round percentages to 1 decimal place, e.g. 12.5%.) Dec. 31, 2022 Dec. 31, 2021 Amount Percentage Amount Percentage Accounts receivable $ 467,400 $ 410,000 Inventory $ 785,400 % $ 660,000 % Total assets $3,197,900 % $2,830,000 % eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer
- Current Attempt in Progress Operating data for Grouper Corp. are presented as follows. Net sales Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income 2022 $840,000 540,120 133,560 57,120 31,920 77,280 2021 $610,000 405,650 80,520 46,970 26,840 50,020 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, e.g. 12.1%.)Financial information for Powell Panther Corporation is shown below: Powell Panther Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2018 2017 Sales $ 3,900.0 $ 3,000.0 Operating costs excluding depreciation and amortization 2,925.0 2,550.0 EBITDA $ 975.0 $ 450.0 Depreciation and amortization 90.0 69.0 Earnings before interest and taxes (EBIT) $ 885.0 $ 381.0 Interest 86.0 66.0 Earnings before taxes (EBT) $ 799.0 $ 315.0 Taxes (40%) 319.6 126.0 Net income $ 479.4 $ 189.0 Common dividends $ 431.0 $ 151.0 Powell Panther Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2018 2017 Assets Cash and equivalents $ 38.0 $ 30.0 Accounts receivable 432.0 360.0 Inventories 819.0 630.0 Total current assets $ 1,289.0 $ 1,020.0 Net plant and equipment 897.0 690.0 Total assets $ 2,186.0 $ 1,710.0 Liabilities and Equity…The following information is from Lacy's Inc. $ millions Prior Fiscal Year Current Fiscal Year Net Year-End Assets Revenue Income $21,330 14,403 $18,955 $1,070 a. Compute the asset turnover ratio for the current fiscal year. b. Compute the return on assets ratio for the current fiscal year. Numerator a. Asset Turnover Ratio $ Check b. Return on Assets Ratio $ Numerator Denominator / $ Denominator / $ || Result Result
- The following are line items from the horizontal analysis of an income statement: Increase/ Increase/ (Decrease) (Decrease) 2018 2017 Amount Percent Fees earned $120,000 $100,000 $20,000 20% Wages expense 50,000 40,000 10,000 25% Supplies expense 600 800 ? ? Complete the last line of the analysis shown above. O a. (200) and (33)%, respectively O b. 200 and 33%, respectively O c. 200 and 25%, respectively O d. (200) and (25) %, respectivelyThe comparative current liabilities balances for December 31, end of the year, for a company are provided below. 2016 2015 Current liabilities $180,000 $150,000 Based on this information, what is the percentage of increase or decrease that would be shown in a balance sheet with horizontal analysis? Group of answer choices (20.0%) 2.0% 20.0%The following are financial data taken from the annual report of Foundotos Company: Year 2 $134,448 51,981 37,154 57,504 Net sales Gross property, plant and equipment Accumulated depreciation Intangible assets (net) A. Calculate the following ratios for Year 1 and Year 2: 1. Fixed asset turnover 2. Accumulated depreciation divided-by-gross fixed assets B. What do the trends in these ratios reveal about Foundotos? Year 1 $130,060 47,744 34,180 36,276
- Roscoe company’s comparative balance sheet show total assets of $1,360,000 and $1,055,000, for the current and prior years, respectively. The percentage change to be reported in the horizontal analysis is an increase of: Multiple Choice 29%. 14%. 13%. 22%.Using the following selected items from the comparative balance sheet of Oriole Products.Determine the horizontal analysis. (Round percentages to 2 decimal places, e.g. 12.21%. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) ORIOLEPRODUCTSComparative Balance SheetDecember 31 2014 2013 Horizontal analysis Amount Percentage Amount Percentage Current assets $110,880 enter percentages % $128,216 enter percentages % Long-term assets 174,240 enter percentages % 117,304 enter percentages % Total assets 3,168,000 enter percentages % 2,728,000 enter percentages % Determine the vertical analysis. (Round percentages to 1 decimal place, e.g. 12.2%.) ORIOLEPRODUCTSComparative Balance SheetDecember 31 2014 2013 Vertical analysis Amount Percentage Amount Percentage Current assets $110,880…E14-23 (similar to) Question Help Trainer Exercise Equipment, Inc. reported the following financial statements for 2018, E (Click the icon to view the income statement.) F (Click the icon to view the comparative balance sheet.) Read the requirements. Requirement 1. Compute the amount of Trainer Exercise's acquisition of plant assets Trainer Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was $40,500. No cash was received upon disposal, The acquisitions of plant assets amounts to