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In: Accounting

_______5. Happy Days, Inc. Comparative Balance Sheet June 30, 2019 and 2018 Assets Increase (Decrease) 2018...

_______5.

Happy Days, Inc.

Comparative Balance Sheet

June 30, 2019 and 2018

Assets

Increase (Decrease)

2018

2017

Amount

Percent

Current assets

$256,000

$190,000

Property, plant, and equipment

428,000

405,000

Intangible assets

24,000

32,000

Total Assets

$708,000

$81,000

12.9%

Liabilities

Current liabilities

$81,000

$89,000

Long-term liabilities

235,000

275,000

Total Liabilities

$316,000

$(48,000)

(13.2%)

Stockholders’ Equity

Common stock

$276,000

$210,000

Retained earnings

116,000

53,000

Total Stockholders’ Equity

$392,000

$129,000

49.0%

Total Liabilities & Stockholders’ Equity

$708,000

$81,000

12.9%
  1. Prepare a comparative balance sheet (horizontal analysis) for June 30, 2019 and 2018. (Round percentages to one decimal place.)
  1. Interpret your findings: Focus on two accounts you find most interesting and explain why. What may have caused the accounts to change?

  1. Vertical Analysis: In 2019: Current Assets are what % of Total Assets?   _____________

Solutions

Expert Solution

Please note in question its mention year 2018 n 2019 while in the data provided in table says 2018 n 2017. I have considered 2018 and 2019

ekkarill92 answered 1 week ago
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