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In: Finance

Financial information for Kurzen Inc. is presented below.

Question Description

 

Financial information for Kurzen Inc. is presented below.

December 31, 2017 December 31, 2016 $100,000 330,000 Current assets $125,000 Plant assets (net) 396,000 91,000 Current liabilities Long-term liabilities Common stock, $1 par Retained earnings 133,000 161,000 136,000 70,000 95,000 115,000 150,000

 

Instructions

Prepare a schedule showing a horizontal analysis for 2017 using 2016 as the base year.

Solutions

Expert Solution

Kurzen Inc.        
  December 31, 2017 December 31, 2016 $ Change Horizontal Analysis
Current assets 125000 100000 25000 25%
Plant assets (net) 396000 330000 66000 20%
Total Assets 521000 430000 91000 21%
         
Current liabilities 91000 70000 21000 30%
Long-term liabilities 133000 95000 38000 40%
Comon Stock, $1 par 161000 115000 46000 40%
Retained earnings 136000 150000 -14000 -9%
Total liabilities & equity 521000 430000 91000 21%
         
Horizontal analysis formula : (Current year - previous year) / previous year or $ Change / Previous year value  
Kurzen Inc.        
  December 31, 2017 December 31, 2016 $ Change Horizontal Analysis
Current assets 125000 100000 25000 25%
Plant assets (net) 396000 330000 66000 20%
Total Assets 521000 430000 91000 21%

Junaid answered 1 year ago
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