Exercise 18-1_Sinead Inc_horizontal analysis
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July 3, 2020Exercise 18-1_Sinead Inc_horizontal analysis
| Exercise 18-1 |
Financial information for Sinead Inc. is presented below.
| December 31, 2013 | December 31, 2012 | |||
| Current assets | $123,920 | $100,970 | ||
| Plant assets (net) | 394,340 | 328,550 | ||
| Current liabilities | 89,510 | 70,740 | ||
| Long-term liabilities | 129,370 | 87,560 | ||
| Common stock, $1 par | 166,530 | 116,400 | ||
| Retained earnings | 132,850 | 154,820 |
Prepare a schedule showing a horizontal analysis for 2013 using 2012 as the base year.(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. 12.3%.)
| SINEAD INC. Condensed Balance Sheets December 31 |
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| Increase or (Decrease) | ||||||||||
| 2013 | 2012 | Amount | Percentage | |||||||
| Assets | ||||||||||
| Current Assets | $123,920 | $100,970 | $ |  % |
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| Plant Assets (net) | 394,340 | 328,550 | % |
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| Total assets | $518,260 | $429,520 | $ | % |
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| Liabilities | ||||||||||
| Current Liabilities | $89,510 | $70,740 | $ |
% |
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| Long-term Liabilities | 129,370 | 87,560 | |
% |
||||||
| Total liabilities | 218,880 | 158,300 | |
% |
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| Stockholders’ Equity | ||||||||||
| Common Stock, $1 par | 166,530 | 116,400 | |
% |
||||||
| Retained Earnings | 132,850 | 154,820 | |
% |
||||||
| Total stockholders’ equity | 299,380 | 271,220 | |
% |
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| Total liabilities and stockholders’ equity | $518,260 | $429,520 | $ |
%
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