Prepare a horizontal analysis of the balance sheet and income statement for 2015 and 2014. (Negative answers
Fantastic news! We've Found the answer you've been seeking!
Question:
Prepare a horizontal analysis of the balance sheet and income statement for 2015 and 2014. (Negative answers should be indicated by a minus sign. Round your answers to 1 decimal place. (i.e., .234 should be entered as 23.4).)
Transcribed Image Text:
REVNIK COMPANY Horizontal Analysis of Balance Sheet As of December 31 2015 2014 Percentage Change Assets Current asset Cash $4 17,800 $ 12,800 % Marketable securities 21,700 7,900 Accounts receivable (net) 54,800 46,800 Inventories 136,400 143,800 Prepaid items 26,000 11,100 Total current assets 256,700 222,400 Investments 28,200 20,400 Plant (net) 270,100 256,200 Land 30,000 25,500 Total long-term assets 328,300 302,100 Total assets $ 585,000 $ 524,500 Liabilities Current liabilities Notes payable $ 16,300 S 4,600 Accounts payable 111,800 98,800 Salaries payable 19,600 14,600 Total current liabilities 147,700 118,000 Noncurrent liabilities Bonds payable 98,100 98,100 Other 30,600 26,200 Total noncurrent liabilities 128,700 124,300 Total liabilities 276,400 242,300 Stockholders' equity Preferred stock, (par value $10, 4% cumulative, non-participating; 7,100 shares authorized andissued) Common stock (No par, 50,000 shares authorized; 10,000 shares issued) 71,000 71,000 71,000 71,000 Retained earnings 166,600 140,200 Total stockholders' equity 308,600 282,200 Total liabilities and stockholders' equity 585,000 $ 524,500 % %24 %24 REVNIK COMPANY Horizontal Analysis of Balance Sheet As of December 31 2015 2014 Percentage Change Assets Current asset Cash $4 17,800 $ 12,800 % Marketable securities 21,700 7,900 Accounts receivable (net) 54,800 46,800 Inventories 136,400 143,800 Prepaid items 26,000 11,100 Total current assets 256,700 222,400 Investments 28,200 20,400 Plant (net) 270,100 256,200 Land 30,000 25,500 Total long-term assets 328,300 302,100 Total assets $ 585,000 $ 524,500 Liabilities Current liabilities Notes payable $ 16,300 S 4,600 Accounts payable 111,800 98,800 Salaries payable 19,600 14,600 Total current liabilities 147,700 118,000 Noncurrent liabilities Bonds payable 98,100 98,100 Other 30,600 26,200 Total noncurrent liabilities 128,700 124,300 Total liabilities 276,400 242,300 Stockholders' equity Preferred stock, (par value $10, 4% cumulative, non-participating; 7,100 shares authorized andissued) Common stock (No par, 50,000 shares authorized; 10,000 shares issued) 71,000 71,000 71,000 71,000 Retained earnings 166,600 140,200 Total stockholders' equity 308,600 282,200 Total liabilities and stockholders' equity 585,000 $ 524,500 % %24 %24
Expert Answer:
Answer rating: 100% (QA)
R COMPANY Horizontal Analysis of Balance Sheet as of December 31 Increase Percentage 2015 2014 Decre... View the full answer
Related Book For
Cost Management A Strategic Emphasis
ISBN: 978-0077733773
7th edition
Authors: Edward Blocher, David Stout, Paul Juras, Gary Cokins
Posted Date:
Students also viewed these accounting questions
-
With reference to specific sections of the Corporations Act 2001 (Cth), explain the difference between a company limited by shares and a company limited by guarantee.
-
The following is the balance sheet and income statement for YUM, Inc. (the company that operates Kentucky Fried Chicken and Pizza Hut), in condensed form, plus some information from the cash flow...
-
The balance sheet and income statement for Berthas Bridal Boutique are presented along with some additional information about the accounts. You are to answer the questions that follow concerning cash...
-
A 10.231-g sample of window cleaner containing ammonia was diluted with 39.466 g of water. Then 4.373 g of solution were titrated with 14.22 mL of 0.1063 M HCl to reach a bromocresol green end point....
-
Require you to manipulate a formula from the inside-back cover to isolate a different variable on the left-hand side. Rearrange formula (5-3) to isolate CM on the left side.
-
Water flows through a fire hose of diameter 6.35 cm at a rate of 0.0120 m3/s, the fire hose ends in a nozzle of inner diameter 2.20 cm. What is the speed with which the water exits the nozzle?
-
Describe self priming devices.
-
Southeastern Airliness daily flight from Atlanta to Charlotte uses a Boeing 737, with all-coach seating for 120 people. In the past, the airline has period every seat at $140 for the one-way flight....
-
Anderson Corporation has found that 80% of its sales in any given month are credit sales, while the remainder are cash sales. Of the credit sales, Anderson Corporation has experienced the following...
-
The October 31, 2017, bank statement of Jazzera Distributors has just arrived. To prepare Jazzera Distributors' bank reconciliation, you gather the following data: a. The October 31 bank balance is...
-
Directions To complete this assignment, address the reasons that employees seek union representation and explain how these choices might be mitigated. Specifically, you must address the following...
-
Problem 1 Water at 10C flows at the rate of 900 L/min from the reservoir and through the pipe shown in Fig. 8.16. Compute the pressure at point B, considering the energy loss due to friction, but...
-
In 2021, Plaintiff, Amanda Johnson suffered a brain injury from a motor cycle accident and was subsequently adjudicated to be incompetent and was appointed a guardian. Plaintiff was awarded $300,000...
-
1. A close corporation wants their shareholder agreement to indicate that shareholders can withdraw with six months' notice. What else should the transfer restrictions in the share agreement state?...
-
Kamet is an investment fund that invests on the Ghana Stock Exchange. In recent times the economy has gone through four different cycles which analyst believe may be repeated in the years ahead....
-
Bob Frank and Mary Monroe are next-door neighbors. Bob's narrow road from the state-maintained highway to his house is approximately 0.2 miles long and runs along the edge of his property. On the...
-
What laws and regulations were broken during the love canal and Hooker chemical incident in New York?
-
Show that every group G with identity e and such that x * x = e for all x G is abelian.
-
Harpers, Ltd., is a U.K. manufacturer of casual shoes for men and women. It has sustained strong growth in the U.K. market in recent years due to its close attention to fashion trends. Harpers's...
-
This assignment is to complete a reading and to prepare the following discussion questions. The article is authored by Joel Litman and Mark L. Frigo, "When Strategy and Valuation Meet," Strategic...
-
Mark-Wright Inc. (MWI) is a specialty frozen food processor located in the midwestern states. Since its founding in 1982, MWI has enjoyed a loyal local clientele willing to pay premium prices for the...
-
The hydrodynamic boundary layer equations consist of one momentum equation and the continuity equation. How does one solve for the pressure?
-
In laminar flow, why does the heat transfer coefficient decrease as the boundary layer thickness grows?
-
How does the hydrodynamic boundary layer thickness depend upon the Reynolds number?
Study smarter with the SolutionInn App