The comparative condensed balance sheets of Garcia Corporation are presented below.
GARCIA CORPORATION
Comparative Condensed Balance Sheets
December 31 |
|
|
2014 |
|
2013 |
| Assets |
|
|
|
|
| Current assets |
|
$ 75,960 |
|
$ 78,790 |
| Property, plant, and equipment (net) |
|
99,040 |
|
90,110 |
| Intangibles |
|
25,880 |
|
41,850 |
| Total assets |
|
$200,880 |
|
$210,750 |
| Liabilities and stockholders' equity |
|
|
|
|
| Current liabilities |
|
$ 40,310 |
|
$ 49,320 |
| Long-term liabilities |
|
140,650 |
|
149,710 |
| Stockholders' equity |
|
19,920 |
|
11,720 |
| Total liabilities and stockholders' equity |
|
$200,880 |
|
$210,750 |
(a) Prepare a horizontal analysis of the balance sheet data for Garcia Corporation using 2013 as a base.
GARCIA CORPORATION
Condensed Balance Sheets
December 31 |
|
|
2014 |
|
2013 |
|
|
Increase
(Decrease) |
|
Percentage
Change from 2013 |
|
| Assets |
|
|
|
|
|
|
|
|
|
|
| Current Assets |
|
$75,960 |
|
$78,790 |
|
|
$ |
|
% |
|
| Property, Plant & Equipment (net) |
|
99,040 |
|
90,110 |
|
|
|
|
% |
|
| Intangibles |
|
25,880 |
|
41,850 |
|
|
|
|
% |
|
| Total assets |
|
$200,880 |
|
$210,750 |
|
|
$ |
|
% |
|
| Liabilities and Stockholders' Equity |
|
|
|
|
|
|
|
|
|
|
| Current Liabilities |
|
$40,310 |
|
$49,320 |
|
|
$ |
|
% |
|
| Long-term Liabilities |
|
140,650 |
|
149,710 |
|
|
|
|
% |
|
| Stockholders' Equity |
|
19,920 |
|
11,720 |
|
|
|
|
% |
|
| Total liabilities and stockholders' equity |
|
$200,880 |
|
$210,750 |
|
|
$ |
|
% |
|
(b) Prepare a vertical analysis of the balance sheet data for Garcia Corporation in columnar form for 2014.
GARCIA CORPORATION
Condensed Balance Sheet
December 31, 2014 |
|
|
Amount |
|
Percent |
|
| Assets |
|
|
|
|
|
| Current Assets |
|
$75,960 |
|
% |
|
| Property, Plant, and Equipment (net) |
|
99,040 |
|
% |
|
| Intangibles |
|
25,880 |
|
% |
|
| Total assets |
|
$200,880 |
|
% |
|
| Liabilities and Stockholders' Equity |
|
|
|
|
|
| Current Liabilities |
|
$40,310 |
|
% |
|
| Long-term Liabilities |
|
140,650 |
|
% |
|
| Stockholders' Equity |
|
19,920 |
|
% |
|
| Total liabilities and stockholders' equity |
|
$200,880 |
|
% |