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. NEALON INC.Condensed Balance SheetsDecember 31Increase or (Decrease)20222021AmountPercentageAssetsCurrent assets$140,000$110,000$30,00027.3%Plant assets (net)440,000360,00080,00022.2%Total assets$580,000$470,000110,00023.4%LiabilitiesCurrent liabilities$95,000$75,000$20,00026.7%Long-term liabilitiesTotal liabilitiesStockholders' Equity.165,000100,00065,00065.0%260,000175,00085,00048.6%Common stock, $1 parRetained earnings180,000120,00060,00050.0%140,000175,000(35,000)(20.0%)Total stockholders'equity320,000295,00025,0008.5%Total liabilities andstockholders' equity$580.000$470,000$110,00023.4%

Introduction Horizontal analysis is the scrutiny of financial data across time, it allows comparison…

Answered: NEALON INC. Condensed Balance Sheets…

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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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.

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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