Exercise 13-3 Here is financial information for Shamrock, Inc.. December 31, 201
ID: 2593567 • Letter: E
Question
Exercise 13-3
Here is financial information for Shamrock, Inc..
December 31, 2019
December 31, 2018
Prepare a schedule showing a horizontal analysis for 2019, using 2018 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%.)
SHAMROCK, INC.
Condensed Balance Sheet
December 31
Increase or (Decrease)
2019
2018
Amount
Percentage
Assets
Current Assets
$104,753
$89,000
%
Plant assets (net)
435,862
382,000
%
Total assets
$540,615
$471,000
%
Liabilities
Current Liabilities
$102,242
$67,000
%
Long-term liabilities
132,373
98,000
%
Total liabilities
$234,615
$165,000
%
Stockholders’ Equity
Common stock, $1 par
128,478
114,000
%
Retained earnings
177,522
192,000
%
Total stockholders’ equity
306,000
306,000
%
Total liabilities and stockholders’ equity
$540,615
$471,000
%
December 31, 2019
December 31, 2018
Current assets $104,753 $ 89,000 Plant assets (net) 435,862 382,000 Current liabilities 102,242 67,000 Long-term liabilities 132,373 98,000 Common stock, $1 par 128,478 114,000 Retained earnings 177,522 192,000Explanation / Answer
2019 2018 Amount Percentage Assets: Current Assets 104753 89000 15753 17.7% Plant assets (net) 435862 382000 53862 14.1% Total assets 540615 471000 69615 14.8% Liabilities Current Liabilities 102242 67000 35242 52.6% Long-term liabilities 132373 98000 34373 35.1% Total liabilities 234615 165000 69615 42.2% Stockholders’ Equity Common stock, $1 par 128478 114000 14478 12.7% Retained earnings 177522 192000 -14478 -7.5% Total stockholders’ equity 306000 306000 0 0.0% Total liabilities and stockholders’ equity 540615 471000 69615 14.8%
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