Question

Here is financial information for Glitter Inc. Prepare horizontal analysis. December 31, 2022 December 31, 2021...

Here is financial information for Glitter Inc.

Prepare horizontal analysis.

December 31, 2022 December 31, 2021
Current assets    $106,000    $ 90,000
Plant assets (net)  400,000  350,000
Current liabilities   99,000   65,000
Long-term liabilities  122,000   90,000
Common stock, $1 par  130,000  115,000
Retained earnings  155,000  170,000

Instructions

Prepare a schedule showing a horizontal analysis for 2022, using 2021 as the base year.

Business   Accounting   
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Answer #1
Particulars 2021 2022 Change Change in %
Current assets $90000 $106000 $16000 17.78%
Plant assets $350000 $400000 $50000 14.29%
Total assets $440000 $506000 15%
Current liabilities $65000 $99000 $34000 52.31%
Long term liabilities $90000 $122000 $32000 35.56%
Total liabilities $155000 $221000 $66000 $42.58
Common stock $115000 $130000 $15000 13.04%
Retained earnings $170000 $155000 ($15000) (8.82%)
Total stockholders equity $285000 $285000 0 0%
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