Current Attempt in Progress Here is financial information for Sunland Inc. Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock, $1 par Retained earnings December 31, 2022 $124,600 394,272 89,568 127,977 166,656 134,671 December 31, 2021 $100,000 333,000 72,000 87,000 112,000 162,000

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 16E
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Current Attempt in Progress
Here is financial information for Sunland Inc.
Current assets
Plant assets (net)
Current liabilities
Long-term liabilities
Common stock, $1 par
Retained earnings
December 31, 2022
$124,600
394,272
89,568
127,977
166,656
134,671
December 31, 2021
$100,000
333,000
72,000
87,000
112,000
162,000
Prepare a schedule showing a horizontal analysis for 2022, using 2021 as the base year. (Enter negative amounts and percentages using
either a negative sign preceding the number e.g. -45, -45% or parentheses e.g. (45), (45%). Round percentages to 1 decimal place, e.g. 12.3%.)
Transcribed Image Text:Current Attempt in Progress Here is financial information for Sunland Inc. Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock, $1 par Retained earnings December 31, 2022 $124,600 394,272 89,568 127,977 166,656 134,671 December 31, 2021 $100,000 333,000 72,000 87,000 112,000 162,000 Prepare a schedule showing a horizontal analysis for 2022, using 2021 as the base year. (Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45, -45% or parentheses e.g. (45), (45%). Round percentages to 1 decimal place, e.g. 12.3%.)
Assets
Current assets
Plant assets (net)
Total assets
Liabilities
Current liabilities
Long-term liabilities
Total liabilities
Stockholders' Equity
Stockholders' Equity
Common stock, $1 par
Retained earnings
Total stockholders' equity
Total liabilities and
stockholders' equity
2022
394,272
$124,600 $100,000
127,977
$518,872 $433,000
217,545
SUNLAND INC.
Condensed Balance Sheets
December 31
$89,568 $72,000
166,656
2021
134,671
301,327
333,000
87,000
159,000
112,000
162,000
274,000
$518,872 $433,000
tA
LA
$
Increase or (Decrease)
Amount
Percentage
%
%
%
%
%
%
%
%
%
%
Transcribed Image Text:Assets Current assets Plant assets (net) Total assets Liabilities Current liabilities Long-term liabilities Total liabilities Stockholders' Equity Stockholders' Equity Common stock, $1 par Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 2022 394,272 $124,600 $100,000 127,977 $518,872 $433,000 217,545 SUNLAND INC. Condensed Balance Sheets December 31 $89,568 $72,000 166,656 2021 134,671 301,327 333,000 87,000 159,000 112,000 162,000 274,000 $518,872 $433,000 tA LA $ Increase or (Decrease) Amount Percentage % % % % % % % % % %
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