Here is financial information for Sage Hill Inc.Prepare a schedule showing a horizontal analysis for 2020, using 2019 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%.)Here is financial information for Sage Hill Inc.. December 31, 2020 December 31, 2019Current assets $101,007 $ 87,000Plant assets (net) 367,488 319,000Current liabilities 99,227 67,000Long-term liabilities 126,268 96,000Common stock, $1 par 126,000 112,000Retained earnings 117,000 131,000 SAGE HILL INC.Condensed Balance SheetDecember 31Increase or (Decrease)20202019AmountPercentageAssetsCurrent Assets$101,007$87,000Plant assets (net)367,488319,000%Total assets$468,495$406,000%LiabilitiesCurrent Liabilities$99,227$67,000Long-term liabilities126,26896,000Total liabilities$225,495$163,000Stockholders' EquityCommon stock, $1 par126,000112,000Retained earnings117,000131,000Total stockholders' equity243,000243,000Total liabilities and$468,495$406,000$stockholders' equity

Horizontal analysis means where the analysis is made with regard with two different period where as…

Answered: Here is financial information for Sage…

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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Here is financial information for Sage Hill Inc.

Prepare a schedule showing a horizontal analysis for 2020, using 2019 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%.)

Here is financial information for Sage Hill Inc..

	December 31, 2020	December 31, 2019
Current assets	$101,007	$ 87,000
Plant assets (net)	367,488	319,000
Current liabilities	99,227	67,000
Long-term liabilities	126,268	96,000
Common stock, $1 par	126,000	112,000
Retained earnings	117,000	131,000

SAGE HILL INC.
Condensed Balance Sheet
December 31
Increase or (Decrease)
2020
2019
Amount
Percentage
Assets
Current Assets
$101,007
$87,000
Plant assets (net)
367,488
319,000
%
Total assets
$468,495
$406,000
%
Liabilities
Current Liabilities
$99,227
$67,000
Long-term liabilities
126,268
96,000
Total liabilities
$225,495
$163,000
Stockholders' Equity
Common stock, $1 par
126,000
112,000
Retained earnings
117,000
131,000
Total stockholders' equity
243,000
243,000
Total liabilities and
$468,495
$406,000
$
stockholders' equity

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