Exercise 13- Here is financial information for Windsor, Inc. December 31, 2017 $

Question

Exercise 13- Here is financial information for Windsor, Inc. December 31, 2017 $109,300 403,200 102,200 125,300 133,300 151,700 December 31, 2016 $93,200 353,300 68,300 93,200 118,300 166,700 Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock, $1 par Retained earnings 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, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, eg. 12.1%.) WINDSOR, INC. Condensed Balance Sheet December 31 Increase or (Decrease) 2017 2016 Amount Percentage Assets $109,300 $93,200 403,200353,300 $512,500 $446,500 Current Assets Plant assets (net) Total assets

Explanation / Answer

WINDSOR INC

Condensed balance sheet as on December 31

Particulars 2017 2016 Increase / Decrease Percentage(%) Assets: Current assets $109300 $93200 $16100 17.27% Plant assets $403200 $353300 $49900 14.12% Total assets $512500 $446500 $66000 14.78% Liabilities: Current liabilities $102200 $68300 $33900 49.63% Long term liabilities $125300 $93200 $32100 34.44% Total liabilities $227500 $161500 $66000 40.86% Stockholder's equity: Common stock $133300 $118300 $15000 12.68% Retained earnings $151700 $166700 ($15000) (9%) Total stockholder's equity $285000 $285000 0 Total liabilities and stockholder's equity $512500 $446500 $66000 14.78%.

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