Question
Prepare a horizontal analysis of the balance sheet. (Negative answers should be indicated by a minus...
Prepare a horizontal analysis of the balance sheet. (Negative answers should be indicated by a minus sign. Round your answers to 1 decimal place. (i.e., .234 should be entered as 23.4).)
ALLENDALE COMPANY
Horizontal Analysis of Balance Sheets 2019 2018 Percentage Change
Assets Current assets Cash $40,000 $36,000
Marketable securities 20,000 6,000
Accounts receivable (net) 54,000 46,000
Inventories 135,000 143,000
Prepaid items 25,000 10,000
Total current assets 274,000 241,000
Investments 27,000 20,000
Plant (net) 270,000 255,000
Land 29,000 24,000
Total long-term assets 326,000 299,000
Total assets $600,000 $540,000
Liabilities and Stockholders’ Equity
Liabilities Current liabilities
Notes payable $17,000 $6,000
Accounts payable 113,800 100,000
Salaries payable 21,000 15,000 Total current liabilities 151,800 121,000
Noncurrent liabilities
Bonds payable 100,000 100,000
Other 32,000 27,000
Total noncurrent liabilities 132,000 127,000
Total liabilities 283,800 248,000
Stockholders' equity
Preferred stock (par value $10, 4% cumulative, nonparticipating; 8,000 shares authorized and issued) 80,000 80,000
Common stock (no par; 50,000 shares authorized; 10,000 shares issued) 80,000 80,000
Retained earnings 156,200 132,000
Total stockholders' equity 316,200 292,000
Total liabilities & stockholders’ equity $600,000 $540,000 %
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