Question

Exercise 13-3

Here is financial information for Marin Inc.

Exercise 13-3 Here is financial information for Marin Inc. Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock, $1 par Retained earnings December 31, 2017 December 31, 2016 $109,400 $ 94,200 404,200 353,400 103,200 68,400 125,400 94,200 133,400 118,400 151,600 166,600 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. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.1%.) MARIN INC. Condensed Balance Sheet December 31 Increase or (Decrease) Amount Percentage 2017 2016 Assets Current Assets $ 109,400 $94,200 Plant assets (net) 404,200 353,400 Total assets $513,600 $447,600 Liabilities Current Liabilities $103,200 $68,400 Long-term liabilities 125,400 94,200

Answer 1

The answer has been presented in the supporting sheet. All the parts has been solved with detailed explanation and calculation. For detailed answer refer to the supporting sheet.

Answer MARIN INC. Condensed Balance Sheet 31-Dec Increase or (Decrease) Amount Percentage 2017 2016 15200 109400 404200 513600 94200 353400 447600 50800 66000 16.1% 14.4% 14.7% 34800 7 Assets 8 Current Assets 9 Planat Assets (net) 10 Total Assets 11 Liabilities 12 Current Liabilities 13 Long term liabilities 14 Total Liabilities 15 Stockholders Equity 16 Common Stock $1, Par 17 Retained earnings 18 Total stockholders equity 19 Total liabilities and stockholders equity 103200 125400 228600 68400 94200 162600 31200 50.9% 33.1% 40.6% 66000 15000 - 15000 133400 151600 285000 513600 118400 166600 285000 447600 12.7% -9.0% 0.0% 14.7% 66000 20 21 Note 22 Formula 23 Amount increase /(decrease) = 2017 amount - 2016 amount 24 Amount increase /(decrease) Percentage = (increase or (decrease) amount)/(2016 amount)*100