Exercise 18-1_Sinead Inc_horizontal analysis

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Exercise 18-1

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Financial information for Sinead Inc. is presented below.

  

December 31, 2013

 

December 31, 2012

Current assets

 

$123,920

 

$100,970

Plant assets (net)

 

394,340

 

328,550

Current liabilities

 

89,510

 

70,740

Long-term liabilities

 

129,370

 

87,560

Common stock, $1 par

 

166,530

 

116,400

Retained earnings

 

132,850

 

154,820


Prepare a schedule showing a horizontal analysis for 2013 using 2012 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 decimal place, e.g. 12.3%.)

SINEAD INC.
Condensed Balance Sheets
December 31

       

Increase or (Decrease)

  

2013

 

2012

  

Amount

 

Percentage

 

Assets

          

Current Assets

 

$123,920

 

$100,970

  

$http://edugen.wiley.com/edugen/art2/common/pixel.gif[removed]

 

http://edugen.wiley.com/edugen/art2/common/pixel.gif[removed] %

 

Plant Assets (net)

 

394,340

 

328,550

  

http://edugen.wiley.com/edugen/art2/common/pixel.gif[removed]

 

http://edugen.wiley.com/edugen/art2/common/pixel.gif[removed] %

 

   Total assets

 

$518,260

 

$429,520

  

$http://edugen.wiley.com/edugen/art2/common/pixel.gif[removed]

 

http://edugen.wiley.com/edugen/art2/common/pixel.gif[removed] %

 

Liabilities

          

Current Liabilities

 

$89,510

 

$70,740

  

$http://edugen.wiley.com/edugen/art2/common/pixel.gif[removed]

 

http://edugen.wiley.com/edugen/art2/common/pixel.gif[removed] %

 

Long-term Liabilities

 

129,370

 

87,560

  

http://edugen.wiley.com/edugen/art2/common/pixel.gif[removed]

 

http://edugen.wiley.com/edugen/art2/common/pixel.gif[removed] %

 

   Total liabilities

 

218,880

 

158,300

  

http://edugen.wiley.com/edugen/art2/common/pixel.gif[removed]

 

http://edugen.wiley.com/edugen/art2/common/pixel.gif[removed] %

 

Stockholders' Equity

          

Common Stock, $1 par

 

166,530

 

116,400

  

http://edugen.wiley.com/edugen/art2/common/pixel.gif[removed]

 

http://edugen.wiley.com/edugen/art2/common/pixel.gif[removed] %

 

Retained Earnings

 

132,850

 

154,820

  

http://edugen.wiley.com/edugen/art2/common/pixel.gif[removed]

 

http://edugen.wiley.com/edugen/art2/common/pixel.gif[removed] %

 

   Total stockholders' equity

 

299,380

 

271,220

  

http://edugen.wiley.com/edugen/art2/common/pixel.gif[removed]

 

http://edugen.wiley.com/edugen/art2/common/pixel.gif[removed] %

 

   Total liabilities and stockholders' equity

 

$518,260

 

$429,520

  

$http://edugen.wiley.com/edugen/art2/common/pixel.gif[removed]

 

http://edugen.wiley.com/edugen/art2/common/pixel.gif[removed] %

 
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