Exercise 13-3 Here is financial information for Metlock, Inc Current assets Plan

Question

Exercise 13-3 Here is financial information for Metlock, Inc Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock, $1 par Retained carnings December 31, 2017 $110,600 404,400 103,400 126,600 134,600 150,400 December 31, 2016 94,400 354,600 69,600 94,400 119,600 165,400 55,000 20% or (55,000), (20%). Round percentages 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, to 1 decimal place, eg. 12.1%.)

Explanation / Answer

Prepare horizontal analysis :

Increase (decrease) 2017 2016 Amount Percentage Assets Current assets 110600 94400 16200 17.2% Plant assets (net) 404400 354600 49800 14.0% Total assets 515000 449000 66000 14.7% Liabilities Current liabities 103400 69600 33800 48.6% Long term liabilities 126600 94400 32200 34.1% Total liabilities 230000 164000 66000 40.2% Stockholder's equity Common stock $1 par 134600 119600 15000 12.5% Retained earnings 150400 165400 (15000) (9.1%) Total stockholder's equity 285000 285000 None 0% Total liabilities and stockholder's equity 515000 449000 66000 14.7%

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