Exercise 13-5 Suppose the comparative balance sheets of Shamrock, Inc. are prese
ID: 2596225 • Letter: E
Question
Exercise 13-5 Suppose the comparative balance sheets of Shamrock, Inc. are presented here. SHAMROCK, INC. Condensed Balance Sheet May 31 ($ in millions) 2017 2016 Assets $9,600$8,790 1,800 1,710 $12,990 $12,300 Current Assets 1,810 1,580 Property, plant, and equipment (net) Other assets Total assets Liabilities and Stockholders' Equity $3,170$3,300 1,390 7,610 $12,990 $12,300 Current Liabilities Long-term liabilities Stockholders' equity Total liabilities and stockholders' equity 1,230 8,590 (a) Prepare a horizontal analysis of the balance sheet data for Shamrock, using 2016 as a base. (If amount and percentage are a decrease show the numbers as negative, e.g.-55,000,-2090 or (55,000), (2090). Roun percentages to 1 decimal place, e.g. 12.1%.)Explanation / Answer
2017
2016
Increase
(Decrease)
Percentage change
Assets
Current Assets
9,600
8,790
810
9.22%
Property, plant and machinery
1,810
1,800
10
0.56%
Other Assets
1,580
1,710
(130)
(7.60)%
Total Assets
12,990
12,300
690
5.61%
Liabilities and Stockholder’s
Equity
Current Liabilities
3,170
3,300
(130)
(3.94)%
Long term liabilities
1,230
1,390
(160)
(11.51)%
Stockholder’s Equity
8,590
7,610
980
12.88%
Total Liabilities and Stockholder’s Equity
12,990
12,300
690
5.61%
2017
Percent
Assets
Current Assets
9,600
73.9%
Property, plant and machinery
1,810
13.93%
Other Assets
1,580
12.16%
Total Assets
12,990
100%
Liabilities and Stockholder’s
Equity
Current Liabilities
3,170
24.4%
Long term liabilities
1,230
9.47%
Stockholder’s Equity
8,590
66.13%
Total Liabilities and Stockholder’s Equity
12,990
100%
2017
2016
Increase
(Decrease)
Percentage change
Assets
Current Assets
9,600
8,790
810
9.22%
Property, plant and machinery
1,810
1,800
10
0.56%
Other Assets
1,580
1,710
(130)
(7.60)%
Total Assets
12,990
12,300
690
5.61%
Liabilities and Stockholder’s
Equity
Current Liabilities
3,170
3,300
(130)
(3.94)%
Long term liabilities
1,230
1,390
(160)
(11.51)%
Stockholder’s Equity
8,590
7,610
980
12.88%
Total Liabilities and Stockholder’s Equity
12,990
12,300
690
5.61%
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