Summary financial information for Crane Company is as follows. Dec. 31, 2017 Dec

Question

Summary financial information for Crane Company is as follows.

Dec. 31, 2017

Dec. 31, 2016

$ 213,600

$ 259,800

1,462,900

845,200

$1,676,500

$1,105,000

Compute the amount and percentage changes in 2017 using horizontal analysis, assuming 2016 is 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. 12.1%.)

Amount

Percent

%

%

%

Dec. 31, 2017

Dec. 31, 2016

Current assets

$ 213,600

$ 259,800

Plant assets

1,462,900

845,200

Total assets

$1,676,500

$1,105,000

Explanation / Answer

Amount(2017value-2016value) %(Amount/2016value) Current assets (213600-259800)=($46200)(Negative) (46200/259800)=(17.8%) Plant assets (1462900-845200)=$617700 (617700/845200)=73.1% Total assets (1676500-1105000)=$571500 (571500/1105000)=51.7%(Approx).

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