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 | | | $[removed] | | [removed] % | | Plant Assets (net) | | 394,340 | | 328,550 | | | [removed] | | [removed] % | | Total assets | | $518,260 | | $429,520 | | | $[removed] | | [removed] % | | Liabilities | | | | | | | | | | | Current Liabilities | | $89,510 | | $70,740 | | | $[removed] | | [removed] % | | Long-term Liabilities | | 129,370 | | 87,560 | | | [removed] | | [removed] % | | Total liabilities | | 218,880 | | 158,300 | | | [removed] | | [removed] % | | Stockholders' Equity | | | | | | | | | | | Common Stock, $1 par | | 166,530 | | 116,400 | | | [removed] | | [removed] % | | Retained Earnings | | 132,850 | | 154,820 | | | [removed] | | [removed] % | | Total stockholders' equity | | 299,380 | | 271,220 | | | [removed] | | [removed] % | | Total liabilities and stockholders' equity | | $518,260 | | $429,520 | | | $[removed] | | [removed] % | |
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