Here is financial information for Spangles Inc. December 31, 2014 December 31, 2
ID: 2489395 • Letter: H
Question
Here is financial information for Spangles Inc.
December 31, 2014
December 31, 2013
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. 12.1%.)
SPANGLES INC.
Condensed Balance Sheet
December 31
Increase or (Decrease)
2014
2013
Amount
Percentage
Assets
Current Assets
$109,828
$94,996
%
Plant assets (net)
404,996
353,828
%
Total assets
$514,824
$448,824
%
Liabilities
Current Liabilities
$103,996
$68,828
%
Long-term liabilities
125,828
94,996
%
Total liabilities
$229,824
$163,824
%
Stockholders’ Equity
Common stock, $1 par
133,828
118,828
%
Retained earnings
151,172
166,172
%
Total stockholders’ equity
285,000
285,000
%
Total liabilities and stockholders’ equity
$514,824
$448,824
%
December 31, 2014
December 31, 2013
Current assets $109,828 $ 94,996 Plant assets (net) 404,996 353,828 Current liabilities 103,996 68,828 Long-term liabilities 125,828 94,996 Common stock, $1 par 133,828 118,828 Retained earnings 151,172 166,172Explanation / Answer
Schedule showing a horizontal analysis for 2014, using 2013 as the base year
SPANGLES INC.
Condensed Balance Sheet
December 31
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