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The comparative balance sheets of First Solar Corporation are presented below. First Solar Corporation Comparative Condensed...

The comparative balance sheets of First Solar Corporation are presented below.

First Solar Corporation

Comparative Condensed Balance Sheets

December 31

2018              2017

Assets

Current assets                            $ 90,000         $ 80,000

Property, plant, and equipment (net)         95,400            90,000

Intangibles                                  33,600            40,000

Total assets                            $219,000          $210,000

Liabilities and stockholders' equity                                   

Current liabilities                       $ 58,320         $ 48,000

Long-term liabilities                       142,500           150,000

Stockholders' equity                         18,180            12,000

Total liab & stockholders' equity       $219,000          $210,000

Instructions

(a) Prepare a horizontal analysis of the balance sheet data using 2017 as a base.

(b) Prepare a vertical analysis of the balance sheet data in columnar form for 2018.

Solutions

Expert Solution

(a)

Horizontal analysis of the balance sheet data using 2017 as a base.

2017 2018 Absolute change % change
Assets
Current assets 80,000 90,000 10,000 12.5
Property, plant, and equipment (net) 90,000 95,400 5,400 6
Intangibles 40,000 33,600 - 6,400 - 16
Total assets 210,000 219,000 9,000 4.29
Liabilities and stockholders' equity
Current liabilities   48,000 58,320 10,320 21.5
Long-term liabilities 150,000 142,500 - 7,500 - 5
Stockholders' equity 12,000 18,180 6,180 51.5
Total liab & stockholders' equity 210,000 219,000 9,000 4.29

Absolute change = Current year figure - Previous year figure

% change = Absolute change/Previous year figure

(b)

Vertical analysis of the balance sheet data in columnar form for 2018.

2018 % of Balance sheet total
Assets
Current assets 90,000 41.10
Property, plant, and equipment (net) 95,400 43.56
Intangibles 33,600 15.34
Total assets 219,000 100
Liabilities and stockholders' equity
Current liabilities   58,320 26.63
Long-term liabilities 142,500 65.07
Stockholders' equity 18,180 8.30
Total liab & stockholders' equity 219,000 100

ekkarill92 answered 2 months ago
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