Question: Prepare a schedule showing a horizontal analysis for 2022 using 2021 as the base year. (Enter negative amounts and percentages using either a negative sign

 Prepare a schedule showing a horizontal analysis for 2022 using 2021
as the base year. (Enter negative amounts and percentages using either a

Prepare a schedule showing a horizontal analysis for 2022 using 2021 as the base year. (Enter negative amounts and percentages using either a negative sign preceding the number es 45,-45% or parentheses es (45).(45%). Round percentages to 1 decimal place, eg. 12.3%) LILY INC. Condensed Balance Sheets December 31 Increase or (Decrease) 2021 Amount Percentage 2022 Assets Current assets $123,000 $100,000 $ 23000 23 %6 Plant assets (net) 395.214 331.000 % Total assets $518.214 $431,000 $ se Liabilities Current liabilities $88.134 $74.000 $ 96 Long-term liabilities 136,840 88,000 55 Total liabilities 224974 162.000 %6 Stockholders Equity Common stock, $1 par 166,026 118,000 % 127.214 Retained earnings 151.000 % % Total stockholders' equity 293.240 269,000 96 Total liabilities and stockholders' equity $518,214 $431.000 Here is financial information for Lily Inc. December 31, 2022 December 31, 2021 Current assets $123,000 $100,000 Plant assets (net) 395,214 331,000 Current liabilities 88.134 74,000 Long-term liabilities 136,840 88,000 Common stock, $1 par 166,026 118,000 Retained earnings 127,214 151,000 Prepare a schedule showing a horizontal analysis for 2022, using 2021 as the base year. (Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45,-45% or parentheses eg. (45), (45%). Round percentages to 1 decimal place, e.g. 12.3%.)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!