? ii Seoure l https://eduqen.wileyolus.com..ed WileyPLUS Kimmat, Arceunting, I,

Question

? ii Seoure l https://eduqen.wileyolus.com..ed WileyPLUS Kimmat, Arceunting, I, Accounting, Gc PRIN. OF ACCT 1811 (ACCT 2101) Exxercisc 13-5 Suppose lhe writerstive balance stleels uf Larkspur, inuï ??"estriled ile'e. LAHKSPUR, INC Condersed alae Sheet Mary 31 (S in millns) ,850 8,850 1,520 13,20 12,30t0 Labilities and Stockholders Equity 1,210 1,790 8,800 7.650 Prepare horizontal ara ysis?the balance sheet date or ? 2 10 as bsse. Ifd nount d percentage dred decre se show the numbers as "eg trve, e 'ss,00 , 2 % or 53 0 (2 Round percenta es to 2 ?? ec nal p dce, e g 12.1% d ar spur, US ARKSPAIR, TNC May 31 ($ in millions) 2017 201G(Decrease) Chanoc Irm 2016 Cumant Aa 1,900 1,060 1,320 1,10 13, 20 12,330 other asels Tural asset Liahilitios and Stockholders Equity Current Ldbibes $3,180 $3,390 Long-term ublties 1,210 1,290 Toal Iabi and stock a ders cat $13,280 $12,330 (b) Prepare a vertical analyal: ct the balance shest data tor Larkspur tor 2017

Explanation / Answer

(a) Horizontal analysis

(b) Vertical analysis

LARKSPUR, INC. Condensed Balance Sheet May 31 ($ in millions) 2017 2016 Increase (Decrease) Percentage Change from 2016 Assets Current assets 9860 8860 1000 11.3% Property, plant, and equipment (net) 1900 1860 40 2.2% Other assets 1520 1610 -90 -5.6% Total assets 13280 12330 950 7.7% Liabilities and Stockholders' Equity Current liabilities 3180 3390 -210 -6.2% Long-term liabilities 1210 1290 -80 -6.2% Stockholders' equity 8890 7650 1240 16.2% Total liabilities and stockholders' equity 13280 12330 950 7.7%

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