Question

December 31, 2020 December 31, 2019 Current assets $123,400 $100,000 Plant assets (net) 394,883 331,000 Current liabilities 88,726 74,000 Long-term liabilities 129,860 86,000 Common stock, $1 par 166,838 119,000 Retained earnings 132,859 152,000 Prepare a schedule showing a horizontal analysis for 2020, using 2019 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%.)

Answer 1

			Increase or (Decrease)
	2020	2019	Amount	Percentage
Assets
Current assets	123400	100000	23400	23.4%
Plant assets (net)	394883	331000	63883	19.3%
Total assets	518283	431000	87283	20.3%
Liabilities
Current liabilities	88726	74000	14726	19.9%
Long-term liabilities	129860	86000	43860	51.0%
Total liabilities	218586	160000	58586	36.6%
Stockholders' Equity
Common stock, $1 par	166838	119000	47838	40.2%
Retained earnings	132859	152000	-19141	-12.6%
Total stockholders' equity	299697	271000	28697	10.6%
Total liabilities and stockholders' equity	518283	431000	87283	20.3%