s:/coastdistrict.instructure.com/courses/420...Q Givenchy: Red Pa Or OCC Home -

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s:/coastdistrict.instructure.com/courses/420...Q Givenchy: Red Pa Or OCC Home - c oast Coll ated Chines.. Question 1 Here is financial information for Teal Mountain Inc. December 31, 2017 December 31, 2016 Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock, $1 par Retained earnings 108,800 404,400 103,400 124,800 132,800 152,200 94,400 352,800 67,800 94,400 117,800 167.200 Prepare a schedule showing a horizontal analysis for 2017, using 2016 as the base year.(If amount and percentage are a decrease show the numbers as negative, eg,-55,000,-20% or (55,000), (20%) Round percentages to 1 decimal place, eg. 12.1%) TEAL MOUNTAIN INC. Condensed Balance Sheet December 31 Increase or (Decrease) 2017 2016 Amount Percentage Assets Current Assets 108,800 94,400 Plant assets (net) 404,400 352,800 Total assets 513,200 447.200

Explanation / Answer

Horizontal analysis :

TEAL MOUNTAIN INC. Condensed balance sheet December 31 Increase (decrease) 2017 2016 Amount Percentage Assets Current assets 108800 94400 14400 15.3% Plant assets 404400 352800 51600 14.6% Total Assets 513200 447200 66000 14.8% Liabilities Current liabilities 103400 67800 35600 52.5% Long term liabilities 124800 94400 30400 32.2% Total liabilities 228200 162200 66000 40.7% Stockholder's equity Common Stock, $1 par 132800 117800 15000 12.7% Retained earnings 152200 167200 -15000 -9.0% Total Stockholder's equity 285000 285000 0 0% Total liabilities and stockholder's equity 513200 447200 66000 14.8%

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