Here is financial information for Sage Hill Inc. Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock, $1 par Retained earnings December 31, 2022 $110,200 402,200 101,200 126,200 134,200 150,800 December 31, 2021 $92,200 354,200 2022 69,200 92,200 119.200 165,800 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%) SAGE HILL INC. Condensed Balance Sheet December 31 2021 Increase or (Decrease) Amount Percentage

Here is financial information for Sage Hill Inc. Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock, $1 par Retained earnings December 31, 2022 $110,200 402,200 101,200 126,200 134,200 150,800 December 31, 2021 $92,200 354,200 2022 69,200 92,200 119.200 165,800 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%) SAGE HILL INC. Condensed Balance Sheet December 31 2021 Increase or (Decrease) Amount Percentage

Name: Here is financial information for Sage Hill Inc.Current assetsPlant a
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Description: Here is financial information for Sage Hill Inc.Current assetsPlant assets (net)Current liabilitiesLong-term liabilitiesCommon stock, $1 parRetained earningsDecember 31, 2022$110,200402,200101,200126,200134,200150,800December 31, 2021$92,200354,2002

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is

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Question

Here is financial information for Sage Hill Inc.
Current assets
Plant assets (net)
Current liabilities
Long-term liabilities
Common stock, $1 par
Retained earnings
December 31, 2022
$110,200
402,200
101,200
126,200
134,200
150,800
December 31, 2021
$92,200
354,200
2022
69,200
92,200
119.200
165,800
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%)
SAGE HILL INC.
Condensed Balance Sheet
December 31
2021
Increase or (Decrease)
Amount
Percentage

Assets
Current Assets
Plant assets (net)
Total assets
Liabilities
Current Liabilities
Long-term liabilities
Total liabilities
Stockholders' Equity
Common stock, $1 par
Retained earnings
Total stockholders' equity
Total liabilities and stockholders'
equity
$110,200
402,200
$512,400
$101,200
126,200
134,200
150,800
$92,200
285,000
354,200
$446,400
$227,400 $161,400
$69,200
92,200
119,200
165,800
285,000
$512,400 $446,400
$
$
$
$
%
%
%
%
%
%
%
%
%
%

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