Here is financial information for Larkspur, Inc.December 31, 2022December 31, 2021Current assets$108,600$ 94,500Plant assets (net)404,500352,600Current liabilities103,50067,600Long-term liabilities124,60094,500Common stock, $1 par132,600117,600Retained earnings152,400167,400Prepare a schedule showing a horizontal analysis for 2022, using 2021 as the base year. (If amount and percentage are a decrease showthe numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.1%.) LARKSPUR, INC.Condensed Balance SheetDecember 31Increase or (Decrease)20222021AmountPercentageAssetsCurrent Assets$108,600$94,5002$Plant assets (net)404,500352,600Total assets$513,100$447,100$%LiabilitiesCustomize and control Google ChromeCurrent Liabilities$103,500$67,600$Long-term liabilities124,60094,500Total liabilities$228,100$162,1002$%Stockholders' EquityCommon stock, $1 par132,600117,600Retained earnings152,400167,400Total stockholders'285,000285,000equityTotal liabilities and$513,100$447,100$stockholders' equity

The horizontal analysis of the financial statements of the business means to analyze the data of two…

LARKSPUR, INC. Condensed Balance Sheet December 31 Increase or (Decrease) 2022 2021 Amount Percentage Assets Current Assets $108,600 $94,500 2$ % Plant assets (net) 404,500 352,600 Total assets $513,100 $447,100 2$ Liabilities Customize and control Google Chrome Current Liabilities $103,500 $67,600 $ % Long-term liabilities 124,600 94,500 % Total liabilities $228,100 $162,100 Stockholders' Equity Common stock, $1 par 132,600 117,600 Retained earnings 152,400 167,400 % Total stockholders' 285,000 285,000 equity Total liabilities and $513,100 $447,100 $ % stockholders' equity

LARKSPUR, INC. Condensed Balance Sheet December 31 Increase or (Decrease) 2022 2021 Amount Percentage Assets Current Assets $108,600 $94,500 2$ % Plant assets (net) 404,500 352,600 Total assets $513,100 $447,100 2$ Liabilities Customize and control Google Chrome Current Liabilities $103,500 $67,600 $ % Long-term liabilities 124,600 94,500 % Total liabilities $228,100 $162,100 Stockholders' Equity Common stock, $1 par 132,600 117,600 Retained earnings 152,400 167,400 % Total stockholders' 285,000 285,000 equity Total liabilities and $513,100 $447,100 $ % stockholders' equity

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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Pls stepwise with explanation and correct only.
What is the Asset Turnover Ratio in 2020?