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Here is financial information for Glitter Inc. December 31, 2020 December 31, 2019 Current assets $124,600...

Here is financial information for Glitter Inc.

December 31, 2020

December 31, 2019
Current assets $124,600 $100,000
Plant assets (net) 394,800 329,000
Current liabilities 85,994 73,000
Long-term liabilities 128,828 86,000
Common stock, $1 par 166,026 118,000
Retained earnings 138,552 152,000


Prepare a schedule showing a horizontal analysis for 2020, using 2019 as the base year. (Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45, -45% or parentheses e.g. (45), (45%). Round percentages to 1 decimal place, e.g. 12.3%.)

GLITTER INC.
Condensed Balance Sheets
December 31

Increase or (Decrease)

2020

2019

Amount

Percentage

Assets

Current assets

$124,600

$100,000

 $ %

Plant assets (net)

 394,800 329,000 %

   Total assets

 $519,400 $429,000 $ %

Liabilities

Current liabilities

$85,994

$73,000

 $ %

Long-term liabilities

 128,828 86,000 %

   Total liabilities

 214,822 159,000 %

Stockholders' Equity

Common stock, $1 par

166,026

118,000

 %

Retained earnings

 138,552 152,000 %

   Total stockholders' equity

 304,578 270,000 %

   Total liabilities and stockholders' equity

 $519,400 $429,000 $ %

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Expert Solution

ekkarill92 answered 1 year ago
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