Here is financial information for Shamrock, Inc. Current assets Plant assets (ne

Question

Here is financial information for Shamrock, Inc. Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock, $1 par Retained earnings December 31, 2017 $108,000 402,500 101,500 124,000 132,000 153,000 December 31, 2016 $92,500 352,000 67,000 92,500 117,000 168,000 55 000 209 or 55,000 20%). Round percentages Prepare a schedule showing a horizontal analysis for 2017, using 2016 as the base year. If amount and percentage are a decrease show the numbers as negative, e g to 1 decimal place, eg, 12.1%.) SHAMROCK, INC. Condensed Balance Sheet Increase or (Decrease) 2017 2016 $108,000 $9,500 402,500 352,000 $510,500 $444,500 Current Assets Plant assets (net) Total assets Liabilities Current iabilities Long-term liabilities $101,500 $7,000 92,500 $225,500 $159,500 124,000 Total liabilities 132,000 117,000 153,000 168,000 285,000 285,000 $510,500 444,500 Common stock, $1 par Retained earnings Total stockholders equity Total liabilities and stockholders' equity

Explanation / Answer

SHAMROCK INC. Condensed Balance Sheet As on december 31 Increase (decrease) Assets 2017 2016 Amount Percentage Current assets $1,08,000 $92,500 $15,500 16.8% Plant assets (net) $4,02,500 $3,52,000 $50,500 14.3% Total assets $5,10,500 $4,44,500 $66,000 14.8% Liabilities Current liabilities $1,01,500 $67,000 $34,500 51.5% Long term liabilities $1,24,000 $92,500 $31,500 34.1% Total liabilities $2,25,500 $1,59,500 $66,000 41.4% Shareholders equity Common stock , $1 par $1,32,000 $1,17,000 $15,000 12.8% Retained earnings $1,53,000 $1,68,000 -$15,000 -8.9% Total stockholders equity $2,85,000 $2,85,000 $0 0.0% Total liabilities and stok=ckholders equity $5,10,500 $4,44,500 $66,000 14.8%

Related Questions

Navigate

• Browse (All)
• Browse H
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.