Question

Here is financial information for Larkspur, Inc.

		December 31, 2017		December 31, 2016
Current assets		$ 108,500		$  92,800
Plant assets (net)		402,800		352,500
Current liabilities		101,800		67,500
Long-term liabilities		124,500		92,800
Common stock, $1 par		132,500		117,500
Retained earnings		152,500		167,500

Prepare a schedule showing a horizontal analysis for 2017, using 2016 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. 12.1%.)

							Enter a dollar amount		Enter percentages
							Enter a dollar amount		Enter percentages
							Enter a dollar amount		Enter percentages
							Enter a dollar amount		Enter percentages
							Enter a dollar amount		Enter percentages
							Enter a dollar amount		Enter percentages
							Enter a dollar amount		Enter percentages
							Enter a dollar amount		Enter percentages
							Enter a dollar amount		Enter percentages
							Enter a dollar amount		Enter percentages

Answer 1

	Condensed Balance Sheet
	December 31
			Increase(decrease)
	2017	2016	Amount	Percentage
Assets
Current assets	108500	92800	15700	16.9%
Plant assets (net)	402800	352500	50300	14.3%
Total assets	511300	445300	66000	14.8%
Liabilities
Current liabilities	101800	67500	34300	50.8%
Long-term liabilities	124500	92800	31700	34.2%
Total liabilities	226300	160300	66000	41.2%
Stockholders' equity
Common stock, $1 par	132500	117500	15000	12.8%
Retained earnings	152500	167500	-15000	-9.0%
Total stockholders' equity	285000	285000	0	0.0%
Total liabilities and stockholders' equity	511300	445300	66000	14.8%