HELP NEEDED ACCOUNTING PROBLEM SOLVE Summary financial information for Sunland C

Question

HELP NEEDED ACCOUNTING PROBLEM SOLVE Summary financial information for Sunland Company is as follows. Dec. 31, 2017 Dec. 31, 2016 237,400 1,381,000 $1,618,400 $ 261,300 835,200 $1,096,500 Current assets Plant assets Total assets 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, eg. 12.1%.) Amount Percent Current assets Plant assets Total assets

Explanation / Answer

Change = Amount in 2017 - Amount in 2016

Percentage = Change/Amount in 2016) *100(

Current Assets

Change = (237,400 - 261,300)

Change = (23,900)

Percentage = [(23,900) / 261,300] * 100

Percentage = 9.14%

Plant Assets

Change = (1,381,000 - 835,200) = 545,800

Percentage = (545,800 / 835,200) *100

Percentage= 65.35%

Total Assets

Change = (1,618,400 - 1,096,500) = 521,900

Percentage = (521,900 / 1,096,500) *100

Percentage = 47.6%

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