Question

Current Attempt in Progress Here is financial information for Glitter Inc Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock, Si par Retained earnings December 31, 2020 $124.400 394,272 85.994 132,675 166,750 133,253 December 31, 2019 $100.000 333.000 73,000 87,000 115,000 158,000 Prepare a schedule showing a horizontal analysis for 2020, using 2019 as the base year. (Enter negative amounts and percentages using either a negative sin preceding the number 3.-45, -45% or parentheses (45).(45%). Round percentages to 1 decimal place, s. 12.3%) GLITTER INC Condensed Balance Sheets December 31 Increase or (Decrease) 2020 2019 Amount Percentage Assets $124.400 Current assets $100.000 $ % Plant assets (net) 394,272 333,000 5 $518,672 $433,000 $ 36 Total assets Liabilities Current liabilities SBS.994 $73.000 $ 36 Long-term liabilities 132.675 87.000 %6 218.669 160.000 36 Total liabilities Stockholders' Equity Common stock, $1 par 166.750 115.000 36 133,253 158,000 36 Retained earnings Total stockholders equity Total liabilities and stockholders' equity 300.003 273.000 95 5518,672 $433.000 $ 36

Answer 1

Solution: a GLITTER INC. Condensed Balance Sheet December 31. 2020 2019 Amount Percentages |ь c=a-b d=c/b Assets Current assets 124400 100000 24400 24.4% Plant assets (net) 394272 333000 61272 18.4% Total assets 518672433000 85672 19.8% Liabilities Current liabilities 85994 73000 12994 17.8% Long term liabilities 132675 87000 45675 52.5% Total liabilities 218669160000 58669 36.7% stockholder equity common stock 166750 115000 51750 45.0% Retained earnings 133253 158000 -24747 -15.7% Total stockholder equity 300003273000 27003 9.9% Total liabilities and stockholder equity 518672 433000 85672 19.8%