Homework Answers
| KINGBIRD, INC. | ||||
| Condensed Balance Sheet | ||||
| December 31. | ||||
| Increase or (Decrease) | ||||
| 2017 (a) | 2016 (b) | Amount (a - b) | Percentage | |
| Assets | ||||
| Current Assets ($17,200/$92,200*100) | $109,400 | $92,200 | $17,200 | 18.7% |
| Plant assets (net) ($48,800/$353,400*100) | $402,200 | $353,400 | $48,800 | 13.8% |
| Total Assets ($66,000/$445,600*100) | $511,600 | $445,600 | $66,000 | 14.8% |
| Liabilities | ||||
| Current Liabilities ($32,800/$68,400*100) | $101,200 | $68,400 | $32,800 | 48.0% |
| Long term liabilities ($33,200/$92,200*100) | $125,400 | $92,200 | $33,200 | 36.0% |
| Total Liabilities ($66,000/$160,600*100) | $226,600 | $160,600 | $66,000 | 41.1% |
| Stockholders' Equity | ||||
| Common stock, $1 par ($15,000/$118,400*100) | $133,400 | $118,400 | $15,000 | 12.7% |
| Retained earnings (-$15,000/$166,600*100) | $151,600 | $166,600 | ($15,000) | (9.0%) |
| Total Stockholders' Equity ($0/$285,000*100) | $285,000 | $285,000 | $0 | 0.0% |
| Total Liabilities and stockholders' equity ($66,000/$445,600*100) | $511,600 | $445,600 | $66,000 | 14.8% |
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Here is financial information for Kingbird, Inc. December 31, 2017 December 31, 2016 Current assets $109,400...
Exercise 13-03 Here is financial information for Kingbird, Inc. Current assets Plant assets (net) Current liabilities...
Exercise 13-03 Here is financial information for Kingbird, Inc. Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock, $1 par Retained earnings December 31, 2022 December 31, 2021 $109,400 $ 92,200 402,200 353,400 101,200 68,400 125,400 92,200 133,400 118,400 151,600 166,600 Prepare a schedule showing a horizontal analysis for 2022, using 2021 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...
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Exercise 13-3
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Exercise 13-3 Here is financial information for Sage Hill Inc. December 31, 2017 December 31, 2016...
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Exercise 13-3
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