Question

CALCULATOR FULL SCREEN PRINTER VER Exercise 13-3 Here is financial information for Sage Hill Inc December 31, 2017 December 31, 2016 $92,200 354,200 69,200 92,200 19,200 165,800 Current assets 110,200 Plant assets (net) Current liabilities Long-term liabilities 402,200 101,200 126,200 134,200 150,800 Common stock, $1 par Retained earnings 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 negats .000, -20% or SAGE HILL INC. Condensed Balance Sheet December 31 Increase°r(Decrease) Amount Assets Current Assets 110,200 $92,200 402,200 354,200 Plant assets (net) hest/stuniidast2358197AN10018 here to search

Answer 1

SAGE HILL INC.
Condensed balance sheet
December 31
Assets	2017	2016	Change	% change
Current assets	$ 1,10,200.00	$      92,200.00	$      18,000.00	19.5%
Plant assets(net)	$ 4,02,200.00	$ 3,54,200.00	$      48,000.00	13.6%
Total Assets	$ 5,12,400.00	$ 4,46,400.00	$      66,000.00	14.8%
Liabilities
Current liabilities	$ 1,01,200.00	$      69,200.00	$      32,000.00	46.2%
Long term liabilities	$ 1,26,200.00	$      92,200.00	$      34,000.00	36.9%
Total liabilities	$ 2,27,400.00	$ 1,61,400.00	$      66,000.00	40.9%
Stockholder’s equity
Common stock	$ 1,34,200.00	$ 1,19,200.00	$      15,000.00	12.6%
Retained earnings	$ 1,50,800.00	$ 1,65,800.00	$   (15,000.00)	-9.0%
Total Stockholder’s equity	$ 2,85,000.00	$ 2,85,000.00	$                     -	0.0%
Total Liabilities and stockholder's equity	$ 5,12,400.00	$ 4,46,400.00	$      66,000.00	14.8%