NEALON INC. Condensed Balance Sheets December 31 Increase or (Decrease) 2022 2021 Amount Percentage Assets Current assets $140,000 $110,000 $30,000 27.3% Plant assets (net) 440,000 360,000 80,000 22.2% Total assets $580.000 $470,000 110,000 23.4% Liabilities Current liabilities $95,000 $75,000 $20,000 26.7% Long-term liabilities 165,000 100,000 65,000 65.0% Total liabilities Stockholders' Equity 260,000 175,000 85,000 48.6% Common stock, $1 par Retained earnings |180,000 120,000 60,000 50.0% 140,000 175,000 (35,000) (20.0%) Total stockholders' equity Total liabilities and stockholders' equity 320,000 295,000 25,000 8.5% $580,000 $470,000 $110,000 23.4%
NEALON INC. Condensed Balance Sheets December 31 Increase or (Decrease) 2022 2021 Amount Percentage Assets Current assets $140,000 $110,000 $30,000 27.3% Plant assets (net) 440,000 360,000 80,000 22.2% Total assets $580.000 $470,000 110,000 23.4% Liabilities Current liabilities $95,000 $75,000 $20,000 26.7% Long-term liabilities 165,000 100,000 65,000 65.0% Total liabilities Stockholders' Equity 260,000 175,000 85,000 48.6% Common stock, $1 par Retained earnings |180,000 120,000 60,000 50.0% 140,000 175,000 (35,000) (20.0%) Total stockholders' equity Total liabilities and stockholders' equity 320,000 295,000 25,000 8.5% $580,000 $470,000 $110,000 23.4%
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
What does the below financial statement tell you about Nealon, Inc?
This analysis uses accounting reports for an understanding of a company’s current economic condition and project into the future. A financial analysis allows management and owners to plan, correct and proceed properly for the best success. Review and analyze the following Financial Statement using horizontal analysis and ratios.
Please be as descriptive as possible.
Transcribed Image Text:NEALON INC.
Condensed Balance Sheets
December 31
Increase or (Decrease)
2022
2021
Amount
Percentage
Assets
Current assets
$140,000
$110,000
$30,000
27.3%
Plant assets (net)
440,000
360,000
80,000
22.2%
Total assets
$580,000
$470,000
110,000
23.4%
Liabilities
Current liabilities
$95,000
$75,000
$20,000
26.7%
Long-term liabilities
Total liabilities
Stockholders' Equity.
165,000
100,000
65,000
65.0%
260,000
175,000
85,000
48.6%
Common stock, $1 par
Retained earnings
180,000
120,000
60,000
50.0%
140,000
175,000
(35,000)
(20.0%)
Total stockholders'
equity
320,000
295,000
25,000
8.5%
Total liabilities and
stockholders' equity
$580.000
$470,000
$110,000
23.4%
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