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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
%

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M9946544

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