Exercise 18-1_Sinead Inc_horizontal analysis

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Description

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

Increase or (Decrease)

2013

2012

Amount

Percentage

Assets

Current Assets

$123,920

$100,970

$

.gif” alt=”http://edugen.wiley.com/edugen/art2/common/pixel.gif”> %

Plant Assets (net)

394,340

328,550

.gif” alt=”http://edugen.wiley.com/edugen/art2/common/pixel.gif”> %

Total assets

$518,260

$429,520

$

.gif” alt=”http://edugen.wiley.com/edugen/art2/common/pixel.gif”> %

Liabilities

Current Liabilities

$89,510

$70,740

$.gif” alt=”http://edugen.wiley.com/edugen/art2/common/pixel.gif”>

.gif” alt=”http://edugen.wiley.com/edugen/art2/common/pixel.gif”> %

Long-term Liabilities

129,370

87,560

.gif” alt=”http://edugen.wiley.com/edugen/art2/common/pixel.gif”>

.gif” alt=”http://edugen.wiley.com/edugen/art2/common/pixel.gif”> %

Total liabilities

218,880

158,300

.gif” alt=”http://edugen.wiley.com/edugen/art2/common/pixel.gif”>

.gif” alt=”http://edugen.wiley.com/edugen/art2/common/pixel.gif”> %

Stockholders’ Equity

Common Stock, $1 par

166,530

116,400

.gif” alt=”http://edugen.wiley.com/edugen/art2/common/pixel.gif”>

.gif” alt=”http://edugen.wiley.com/edugen/art2/common/pixel.gif”> %

Retained Earnings

132,850

154,820

.gif” alt=”http://edugen.wiley.com/edugen/art2/common/pixel.gif”>

.gif” alt=”http://edugen.wiley.com/edugen/art2/common/pixel.gif”> %

Total stockholders’ equity

299,380

271,220

.gif” alt=”http://edugen.wiley.com/edugen/art2/common/pixel.gif”>

.gif” alt=”http://edugen.wiley.com/edugen/art2/common/pixel.gif”> %

Total liabilities and stockholders’
equity

$518,260

$429,520

$.gif” alt=”http://edugen.wiley.com/edugen/art2/common/pixel.gif”>

.gif” alt=”http://edugen.wiley.com/edugen/art2/common/pixel.gif”> %

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