Question

Exercise 14-1 Financial information for kurzen Inc. is presented below. Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock, $1 par Retained earnings December 31, 2017 $122,600 394,400 86,000 133,900 166,200 130,900 December 31, 2016 $103,800 330,000 72,400 86,000 110,000 165,400 Prepare a schedule showing a horizontal analysis for 2017 using 2016 as the base year. (Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45, -45% or parentheses e.g. (45), (45%). Round percentages to 1 decimal place, e.g. 12.3%.) KURZEN INC. Condensed Balance Sheets Increase or (Decrease) Percentage 2017 2016 Amount Assets Current assets $122,600 $103,800 Plant assets (net) 394,400 330,000 Total assets $517,000 $433,800 Liabilities Current liabilities $86,000 $72,400 Long-term liabilities 133,900 86,000 Total liabilities 219,900 158,400 Stockholders' Equity Common stock, $1 par 166,200 110,000 Retained earnings 130,900 165,400 Total stockholders' equity 297,100 275,400 Total liabilities and stockholders' equity $517,000 $433,800

Answer 1

KURZEN INC.
Condensed Balance sheets
			Increase or (Decrease)
	2017	2016	Amount	Percentage
Assets
Current assets	$        1,22,600	$        1,03,800	$         18,800	18.1%
Plan assets (net)	$        3,94,400	$        3,30,000	$         64,400	19.5%
Total assets	$        5,17,000	$        4,33,800	$         83,200	19.2%
Liabilities
Current liabilities	$            86,000	$            72,400	$         13,600	18.8%
Long-term liabilities	$        1,33,900	$            86,000	$         47,900	55.7%
Total liabilities	$        2,19,900	$        1,58,400	$         61,500	38.8%
Shareholder's Equity
Common stock, $1 par	$        1,66,200	$        1,10,000	$         56,200	51.1%
Retained earnings	$        1,30,900	$        1,65,400	$ -34,500	-20.9%
Total shareholers' equity	$        2,97,100	$        2,75,400	$         21,700	7.9%
Total liabilities and stockholders' equity	$        5,17,000	$        4,33,800	$         83,200	19.2%