Here is financial information for Glitter Inc. December 31, 2020 December 31, 2019 Current assets $123,000 $100,000 Plant assets (net) 394,471 329,000 Current liabilities 88,430 74,000 Long-term liabilities 128,140 86,000 Common stock, $1 par 166,600 119,000 Retained earnings 134,301 150,000 Prepare a schedule showing a horizontal analysis for 2020, using 2019 as the base year. (Enter negative amounts and percentages using either a negative sign preceding the number eg. -45, -45% or parentheses e.g. (45), (45%). Round percentages to 1 decimal place, eg. 12.3%.) GLITTER INC. Condensed Balance Sheets December 31 Increase or (Decrease) 2020 2019 Amount Pere Assets Current assets $123,000 $100,000 2$ Plant assets 394,471 329,000 (net) Total assets $517,471 $429,000 24 Liabilities Current $88,430 $74,000 $ liabilities Long-term 128,140 86,000 liabilities Total 216,570 160,000 liabilities Stockholders' Equity Common 166,600 119,000 stock, $1 par Retained 134,301 150,000 earnings Total stockholders 300,901 269,000 equity Total liabilities and $517,471 $429,000 stockholders" equity

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Here is financial information for Glitter Inc.
December 31, 2020
December 31, 2019
Current assets
$123,000
$100,000
Plant assets (net)
394,471
329,000
Current liabilities
88,430
74,000
Long-term liabilities
128,140
86,000
Common stock, $1 par
166,600
119,000
Retained earnings
134,301
150,000
Prepare a schedule showing a horizontal analysis for 2020, using 2019 as the base year. (Enter
negative amounts and percentages using either a negative sign preceding the number
e.g. -45, -45% or parentheses e.g. (45), (45%). Round percentages to 1 decimal place,
e.g. 12.3%.)
GLITTER INC.
Condensed Balance Sheets
December 31
Increase or (Decrease)
2020
2019
Amount
Perc
Assets
Current assets
$123,000
$100,000
$
Plant assets
394,471
329,000
(net)
Total assets
$517,471
$429,000
$
Liabilities
Current
$88,430
$74,000
liabilities
Long-term
128,140
86,000
liabilities
Total
216,570
160,000
liabilities
Stockholders'
Equity
Common
166,600
119,000
stock, $1 par
Retained
134,301
150,000
earnings
Total
stockholders"
300,901
269,000
equity
Total
liabilities and
$517,471
$429,000
$
stockholders'
equity
Transcribed Image Text:Here is financial information for Glitter Inc. December 31, 2020 December 31, 2019 Current assets $123,000 $100,000 Plant assets (net) 394,471 329,000 Current liabilities 88,430 74,000 Long-term liabilities 128,140 86,000 Common stock, $1 par 166,600 119,000 Retained earnings 134,301 150,000 Prepare a schedule showing a horizontal analysis for 2020, using 2019 as the base year. (Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45, -45% or parentheses e.g. (45), (45%). Round percentages to 1 decimal place, e.g. 12.3%.) GLITTER INC. Condensed Balance Sheets December 31 Increase or (Decrease) 2020 2019 Amount Perc Assets Current assets $123,000 $100,000 $ Plant assets 394,471 329,000 (net) Total assets $517,471 $429,000 $ Liabilities Current $88,430 $74,000 liabilities Long-term 128,140 86,000 liabilities Total 216,570 160,000 liabilities Stockholders' Equity Common 166,600 119,000 stock, $1 par Retained 134,301 150,000 earnings Total stockholders" 300,901 269,000 equity Total liabilities and $517,471 $429,000 $ stockholders' equity
Here is financial information for Glitter Inc.
December 31, 2020
December 31, 2019
Current assets
$123,000
$100,000
Plant assets (net)
394,471
329,000
Current liabilities
88,430
74,000
Long-term liabilities
128,140
86,000
Common stock, $1 par
166,600
119,000
Retained earnings
134,301
150,000
Prepare a schedule showing a horizontal analysis for 2020, using 2019 as the base year. (Enter
negative amounts and percentages using either a negative sign preceding the number
e.g. -45, -45% or parentheses e.g. (45), (45%). Round percentages to 1 decimal place,
e.g. 12.3%.)
GLITTER INC.
Condensed Balance Sheets
December 31
Increase or (Decrease)
2020
2019
Amount
Percentage
Transcribed Image Text:Here is financial information for Glitter Inc. December 31, 2020 December 31, 2019 Current assets $123,000 $100,000 Plant assets (net) 394,471 329,000 Current liabilities 88,430 74,000 Long-term liabilities 128,140 86,000 Common stock, $1 par 166,600 119,000 Retained earnings 134,301 150,000 Prepare a schedule showing a horizontal analysis for 2020, using 2019 as the base year. (Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45, -45% or parentheses e.g. (45), (45%). Round percentages to 1 decimal place, e.g. 12.3%.) GLITTER INC. Condensed Balance Sheets December 31 Increase or (Decrease) 2020 2019 Amount Percentage
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