epare horizontal analys Here is financial information for Glitter, Inc. December
ID: 2605287 • Letter: E
Question
epare horizontal analys Here is financial information for Glitter, Inc. December 31, 2017 December 31, 2016 Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock, S1 par Reained earnings S106,000 400,000 99,000 122,000 130,000 155,000 S90,000 350,000 65,000 90,000 115,000 170,000 Instructions Prepare a schedule showing a horizontal analysis for 2017, using 2016 as the base year NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?".Explanation / Answer
Answer
Increase/(Decrease)
2017
2016
Amount
Percentage
Assets
Current assets
$ 106,000
$ 90,000
$ 16,000
117.78%
Plant assets (net)
$ 400,000
$ 350,000
$ 50,000
114.29%
Total assets
$ 506,000
$ 440,000
$ 66,000
115.00%
Liabilities
Current liabilities
$ 99,000
$ 65,000
$ 34,000
152.31%
Long-term liabilities
$ 122,000
$ 90,000
$ 32,000
135.56%
Total Liabilities
$ 221,000
$ 155,000
$ 66,000
142.58%
Stockholders' equity
Common stock, $1 par
$ 130,000
$ 115,000
$ 15,000
13.04%
Reained earnings
$ 155,000
$ 170,000
-$ 15,000
-8.82%
Total Stockholders' equity
$ 285,000
$ 285,000
$ 0
0.00%
Total Liabilities and Stockholders' equity
$ 506,000
$ 440,000
$ 66,000
15.00%
Increase/(Decrease)
2017
2016
Amount
Percentage
Assets
Current assets
$ 106,000
$ 90,000
$ 16,000
117.78%
Plant assets (net)
$ 400,000
$ 350,000
$ 50,000
114.29%
Total assets
$ 506,000
$ 440,000
$ 66,000
115.00%
Liabilities
Current liabilities
$ 99,000
$ 65,000
$ 34,000
152.31%
Long-term liabilities
$ 122,000
$ 90,000
$ 32,000
135.56%
Total Liabilities
$ 221,000
$ 155,000
$ 66,000
142.58%
Stockholders' equity
Common stock, $1 par
$ 130,000
$ 115,000
$ 15,000
13.04%
Reained earnings
$ 155,000
$ 170,000
-$ 15,000
-8.82%
Total Stockholders' equity
$ 285,000
$ 285,000
$ 0
0.00%
Total Liabilities and Stockholders' equity
$ 506,000
$ 440,000
$ 66,000
15.00%
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