Financial information for Gallup Inc. is presented below. December 31, 2014 Dece
ID: 2381796 • Letter: F
Question
Financial information for Gallup Inc. is presented below.
December 31, 2014
December 31, 2013 Current assets
$123,550
$100,900 Plant assets (net)
394,740
332,800 Current liabilities
88,910
72,420 Long-term liabilities
133,820
86,720 Common stock, $1 par
164,960
113,700 Retained earnings
130,600
160,860 Financial information for Gallup Inc. is presented below. Prepare a schedule showing a horizontal analysis for 2014 using 2013 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. 12.3%.)
Explanation / Answer
AMOUNT = 2014'S AMOUNT - 2013'S AMOUNT
PERCENTAGE = INCREASE/(DECREASE)/2013'S AMOUNT * 100
CURRENT ASSETS
INCREASE IN AMOUNT = 123550-100900
=22650
PERCENTAGE INCREASE = 22650/100900 * 100
=22.45%
PLANT ASSETS
INCREASE IN AMOUNT = 61940
PERCENTAGE INCREASE = 18.61%
TOTAL ASSETS
INCREASE IN AMOUNT = 84590
PERCENTAGE INCREASE = 19.5%
CURRENT LIABILITIES
INCREASE IN AMOUNT= 16490
PERCENTAGE INCREASE = 22.77%
LONG-TERM LIABILITIES
INCREASE IN AMOUNT = 47100
PERCENTAGE INCREASE = 54.31%
TOTAL LIABILITIES
INCREASE IN AMOUNT = 63590
PERCENTAGE INCREASE = 39.96%
TOTAL STOCKHOLDERS EQUITY
INCREASE IN AMOUNT = 21000
PERCENTAGE INCREASE = 7.65%
Total liabilities and stockholders' equity
INCREASE IN AMOUNT = 84590
PERCENTAGE INCREASE = 19.5%
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