Question

December 31, 2020 December 31, 2019 Current assets $124,400 $100,000 Plant assets (net) 394,272 333,000 Current liabilities 85,994 73,000 Long-term liabilities 132,675 87,000 Common stock, $1 par 166,750 115,000 Retained earnings 133,253 158,000 Prepare a schedule showing a horizontal analysis for 2020, using 2019 as the base year. (Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45, -45% or parentheses e.g. (45), (45%). Round percentages to 1 decimal place, e.g. 12.3%.) GLITTER INC. Condensed Balance Sheets December 31 Increase or (Decrease) 2020 2019 Amount Percentage Assets Current assets $124,400 $100,000 $ % Plant assets (net) 394,272 333,000 % Total assets $518,672 $433,000 $ % Liabilities Current liabilities $85,994 $73,000 $ % Long-term liabilities 132,675 87,000 % Total liabilities 218,669 160,000 % Stockholders' Equity Common stock, $1 par 166,750 115,000 % Retained earnings 133,253 158,000 % Total stockholders' equity 300,003 273,000 % Total liabilities and stockholders' equity $518,672 $433,000 $ %

Answer 1