Question: Current Attempt in Progress Here is financial information for Glitter Inc. December 31, 2019 December 31, 2020 $122,600 Current assets $100,000 Plant assets (net) 394,350

Current Attempt in Progress Here is financial information for Glitter Inc. December 31, 2019 December 31, 2020 $122,600 Current assets $100,000 Plant assets (net) 394,350 330,000 Current liabilities 85,968 72,000 Long-term liabilities 133,902 86,000 Common stock, $1 par 166,210 110,000 Retained earnings 130,870 162,000 Prepare a schedule showing a horizontal analysis for 2020, using 2019 as the base year. (Enter negative amounts and percentages using eithe 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 $122.600 $100.000 negative sign preceding the numberg, -45,-45% or parentheses e s. (45),(45%). Round percentages to 1 decimal place, e.g. 12.3%) GLITTER INC. Condensed Balance Sheets December 31 Increase or (Decrease) Amount Percentage 2020 2019 Assets Current assets $ $122,600 $100,000 394,350 330.000 Plant assets (net) Total assets $516,950 $430,000 Liabilities Current liabilities $85,968 $72.000 Long-term liabilities 133,902 86,000 Total liabilities 219,870 158,000 Stockholders' Equity Common stock, $1 par 110,000 Retained earnings 166,210 130,870 297,080 162,000 272,000 Total stockholders' equity Total liabilities and stockholders' equity $516,950 $430,000
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
