Prepare a horizontal analysis of both the balance sheet and income statement.
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BENSON COMPANY | ||||
Horizontal Analysis of Income Statements | ||||
2019 | 2018 | Percentage Change | ||
Revenues | ||||
Sales (net) | $231,000 | $210,600 | not attempted | % |
Other revenues | 8,700 | 5,700 | not attempted | |
Total revenues | 239,700 | 216,300 | not attempted | |
Expenses | ||||
Cost of goods sold | 118,100 | 101,800 | not attempted | |
Selling, general, and administrative expenses | 54,300 | 48,300 | not attempted | |
Interest expense | 6,800 | 6,000 | not attempted | |
Income tax expense | 21,700 | 20,700 | not attempted | |
Total expenses | 200,900 | 176,800 | not attempted | |
Net income (loss) | $38,800 | $39,500 | not attempted | % |
Solution
Please leave a comment if % is required in decimal place other than 1. Round off detail can be provided in comment.
BENSON COMPANY | ||||
Horizontal Analysis of Balance Sheets | ||||
2019 | 2018 | Percentage Change | ||
Assets | ||||
Current assets | ||||
Cash | $ 17,700.00 | $ 13,300.00 | 33.1% | |
Marketable securities | $ 20,600.00 | $ 6,800.00 | 202.9% | |
Accounts receivable (net) | $ 54,100.00 | $ 46,900.00 | 15.4% | |
Inventories | $ 136,900.00 | $143,000.00 | -4.3% | |
Prepaid items | $ 26,200.00 | $ 11,800.00 | 122.0% | |
Total current assets | $ 255,500.00 | $221,800.00 | 15.2% | |
Investments | $ 27,000.00 | $ 20,900.00 | 29.2% | |
Plant (net) | $ 271,200.00 | $256,300.00 | 5.8% | |
Land | $ 29,700.00 | $ 25,000.00 | 18.8% | |
Total long-term assets | $ 327,900.00 | $302,200.00 | 8.5% | |
Total assets | $ 583,400.00 | $524,000.00 | 11.3% | |
Liabilities and Stockholders’ Equity | ||||
Liabilities | ||||
Current liabilities | ||||
Notes payable | $ 15,500.00 | $ 5,000.00 | 210.0% | |
Accounts payable | $ 113,300.00 | $ 98,400.00 | 15.1% | |
Salaries payable | $ 20,100.00 | $ 14,300.00 | 40.6% | |
Total current liabilities | $ 148,900.00 | $117,700.00 | 26.5% | |
Noncurrent liabilities | ||||
Bonds payable | $ 98,400.00 | $ 98,400.00 | 0.0% | |
Other | $ 31,800.00 | $ 26,200.00 | 21.4% | |
Total noncurrent liabilities | $ 130,200.00 | $124,600.00 | 4.5% | |
Total liabilities | $ 279,100.00 | $242,300.00 | 15.2% | |
Stockholders' equity | ||||
Preferred stock (par value $10, 4% cumulative, nonparticipating; 7,600 shares authorized and issued) | $ 76,000.00 | $ 76,000.00 | 0.0% | |
Common stock (no par; 50,000 shares authorized; 10,000 shares issued) | $ 76,000.00 | $ 76,000.00 | 0.0% | |
Retained earnings | $ 152,300.00 | $129,700.00 | 17.4% | |
Total stockholders' equity | $ 304,300.00 | $281,700.00 | 8.0% | |
Total liabilities & stockholders’ equity | $ 583,400.00 | $524,000.00 | 11.3% |
Requirement 2
BENSON COMPANY | ||||
Horizontal Analysis of Income Statements | ||||
2019 | 2018 | Percentage Change | ||
Revenues | ||||
Sales (net) | $ 231,000.00 | $210,600.00 | 9.7% | |
Other revenues | $ 8,700.00 | $ 5,700.00 | 52.6% | |
Total revenues | $ 239,700.00 | $216,300.00 | 10.8% | |
Expenses | ||||
Cost of goods sold | $ 118,100.00 | $101,800.00 | 16.0% | |
Selling, general, and administrative expenses | $ 54,300.00 | $ 48,300.00 | 12.4% | |
Interest expense | $ 6,800.00 | $ 6,000.00 | 13.3% | |
Income tax expense | $ 21,700.00 | $ 20,700.00 | 4.8% | |
Total expenses | $ 200,900.00 | $176,800.00 | 13.6% | |
Net income (loss) | $ 38,800.00 | $ 39,500.00 | -1.8% |
% change = (Value of 2019 minus valuer of 2018) divided by value of 2018.
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