Here is financial information for Glitter Inc. December 31, 2020 December 31, 2019 Current assets $ 122,000 $ 100,000 Plant assets (net) 395,456 334,000 Current liabilities 87,764 74,000 Long-term liabilities 129,096 88,000 Common stock, $1 par 166,430 110,000 Retained earnings 134,166 162,000 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%.)
Here is financial information for Glitter Inc. December 31, 2020 December 31, 2019 Current assets $ 122,000 $ 100,000 Plant assets (net) 395,456 334,000 Current liabilities 87,764 74,000 Long-term liabilities 129,096 88,000 Common stock, $1 par 166,430 110,000 Retained earnings 134,166 162,000 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%.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Here is financial information for Glitter Inc.
|
December 31, 2020
|
December 31, 2019
|
|||
|---|---|---|---|---|
|
Current assets
|
$ 122,000 | $ 100,000 | ||
|
Plant assets (net)
|
395,456 | 334,000 | ||
|
Current liabilities
|
87,764 | 74,000 | ||
|
Long-term liabilities
|
129,096 | 88,000 | ||
|
Common stock, $1 par
|
166,430 | 110,000 | ||
|
|
134,166 | 162,000 |
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%.)
Transcribed Image Text: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
Percentage
Assets
$
100,000
$
Current assets
$
122,000
Plant assets (net)
395,456
334,000
$
$
Total assets
$
517,456
434,000
Liabilities
$
Current liabilities
$
%
87,764
74,000
Long-term liabilities
129,096
88,000
Total liabilities
216,860
162,000
Stockholders' Equity
Common stock, $1 par
166,430
110,000
Retained earnings
134,166
162,000
%
Total stockholders' equity
300,596
272,000
%
Total liabilities and
$
$
$
stockholders' equity
517,456
434,000
%24
%24
%24
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