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Vertical analysis of balance sheet
Balance sheet data for Alvarez Company on December31, the end of two recent fiscal years, follows: (Retained Earnings, Current year, 36.8%)
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Current Assets $2,500,000 $1,840,000
Property, plant, and equipment $5,600,000 $6,072,000
Intangible assets $1,900,000 $1,288,000
Current liabilities $2,000,000 $1,380,000
Long-term liabilities $3,400,000 $3,680,000
Common stock $920,000 $920,000
Retained earnings $3,680,000 $3,200,000
.Prepare a comparative balance sheet for both years, stating each asset as a percent of total assets and each liability and stockholders equity item as a percent of the total liabilities and stockholders equity. (Round percentages to one decimal place.)
14-5
Income Statement data for Winthrop Company for tow recent years ended December 31 are as follows: (Net Income increase, 66.0%)
Current Year, Previous Year
Sales $2,280,000 $2,000,000
Cost of goods sold $1,960,000 $1,750,000
Gross profit $320,000 $250,000
Selling Expenses $156,000 $125,000
Administrative expenses $122,000 $100,000
Total operating expenses $278,000 $225,000
Income before income tax $41,500 $25,000
Income tax expense $16,600 $10,000
Net Income $24,900 $15,000
A. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for the current year when compared with the previous year. (Round percentages to one decimal place)
B. What conclusions can be drawn from the horizontal analysis?
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