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In: Accounting

METLOCK, INC. Condensed Balance Sheet May 31 ($ in millions) 2017 2016 Assets Current Assets $9,800...

METLOCK, INC.
Condensed Balance Sheet
May 31
($ in millions)

2017

2016

Assets

Current Assets

$9,800

$8,760

Property, plant, and equipment (net)

1,970

1,800

Other assets

1,550

1,770

Total assets

$13,320

$12,330

Liabilities and Stockholders' Equity

Current Liabilities

$3,230

$3,320

Long-term liabilities

1,310

1,350

Stockholders’ equity

8,780

7,660

Total liabilities and stockholders' equity

$13,320

$12,330


(a) Prepare a horizontal analysis of the balance sheet data for Metlock, using 2016 as a base. (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%.)

METLOCK, INC.
Condensed Balance Sheet
May 31
($ in millions)

2017

2016

Increase
(Decrease)

Percentage
Change
from 2013

Assets

   Current Assets

$9,800

$8,760

$Enter a dollar amount

Enter percentages rounded to 1 decimal place

%

   Property, plant, and equipment (net)

1,970

1,800

Enter a dollar amount

Enter percentages rounded to 1 decimal place

%

   Other assets

1,550

1,770

Enter a dollar amount

Enter percentages rounded to 1 decimal place

%

   Total assets

$13,320

$12,330

$Enter a total amount for this section

Enter percentages rounded to 1 decimal place

%

Liabilities and Stockholders' Equity

   Current Liabilities

$3,230

$3,320

$Enter a dollar amount

Enter percentages rounded to 1 decimal place

%

   Long-term liabilities

1,310

1,350

Enter a dollar amount

Enter percentages rounded to 1 decimal place

%

   Stockholders’ equity

8,780

7,660

Enter a dollar amount

Enter percentages rounded to 1 decimal place

%

   Total liabilities and stockholders' equity

$13,320

$12,330

$Enter a total amount for this section

Enter percentages rounded to 1 decimal place

%


(b) Prepare a vertical analysis of the balance sheet data for Metlock for 2017.

METLOCK, INC.
Condensed Balance Sheet

Choose the accounting period                                                          May 31, 2017For the Year Ended May 31, 2017For the Month Ended May 31, 2017

$ (in millions)

Percent

Assets

   Current Assets

$9,800

Enter percentages

%

   Property, plant, and equipment (net)

1,970

Enter percentages

%

   Other assets

1,550

Enter percentages

%

Total assets

$13,320

Enter percentages

%

Liabilities and Stockholders' Equity

   Current Liabilities

$3,230

Enter percentages

%

   Long-term Liabilities

1,310

Enter percentages

%

   Stockholders’ equity

8,780

Enter percentages

%

Total liabilities and stockholders' equity

$13,320

Enter percentages

%

Solutions

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