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Current assets $122,000 $100,000 $ % Plant assets (net) 393,900 325,000 % Total assets $515,900 $425,000 $ % Liabilities Current liabilities $86,030 $70,000 $ % Long-term liabilities 128,010 85,000 % Total liabilities 214,040 155,000 % Stockholders' Equity Common stock, $1 par 165,990 110,000 % Retained earnings 135,870 160,000 % Total stockholders' equity 301,860 270,000 % Total liabilities and stockholders' equity $515,900 $425,000 % Click if you would like to Show Work for this question: Open Show Work
Current assets $122,000 $100,000 $ % Plant assets (net) 393,900 325,000 % Total assets $515,900 $425,000 $ % Liabilities Current liabilities $86,030 $70,000 $ % Long-term liabilities 128,010 85,000 % Total liabilities 214,040 155,000 % Stockholders' Equity Common stock, $1 par 165,990 110,000 % Retained earnings 135,870 160,000 % Total stockholders' equity 301,860 270,000 % Total liabilities and stockholders' equity $515,900 $425,000 % Click if you would like to Show Work for this question: Open Show Work
Expert Solution
Solution
| Increase or (Decrease) | Increase or (Decrease) | |||
| 2020 | 2019 | Amount | Percentage | |
| Assets | ||||
| Current assets | $ 122,000 | $ 100,000 | $ 22,000 | 22.0%* |
| Plant assets(net) | $ 393,900 | $ 325,000 | $ 68,900 | 21.2%** |
| Total Assets | $ 515,900 | $ 425,000 | $ 90,900 | 21.4% |
| Liabilities | ||||
| Current liabilities | $ 86,030 | $ 70,000 | $ 16,030 | 22.9% |
| Long-term liabilities | $ 128,010 | $ 85,000 | $ 43,010 | 50.6% |
| Total liabilities | $ 214,040 | $ 155,000 | $ 59,040 | 38.1% |
| Stockholder's equity | ||||
| Common stock, $1 par | $ 165,990 | $ 110,000 | $ 55,990 | 50.9% |
| Retained earnings | $ 135,870 | $ 160,000 | $ (24,130) | -15.1% |
| Total Stockholder's equity | $ 301,860 | $ 270,000 | $ 31,860 | 11.8% |
| Total liabilities and stockholder's equity | $ 515,900 | $ 425,000 | $ 90,900 | 21.4% |
*22000/100000
**68900/325000 and all other % change are calculated in same way.
Alternate answer with answers in 2 decimal place
| Increase or (Decrease) | Increase or (Decrease) | |||
| 2020 | 2019 | Amount | Percentage | |
| Assets | ||||
| Current assets | $ 122,000 | $ 100,000 | $ 22,000 | 22.00% |
| Plant assets(net) | $ 393,900 | $ 325,000 | $ 68,900 | 21.20% |
| Total Assets | $ 515,900 | $ 425,000 | $ 90,900 | 21.39% |
| Liabilities | ||||
| Current liabilities | $ 86,030 | $ 70,000 | $ 16,030 | 22.90% |
| Long-term liabilities | $ 128,010 | $ 85,000 | $ 43,010 | 50.60% |
| Total liabilities | $ 214,040 | $ 155,000 | $ 59,040 | 38.09% |
| Stockholder's equity | ||||
| Common stock, $1 par | $ 165,990 | $ 110,000 | $ 55,990 | 50.90% |
| Retained earnings | $ 135,870 | $ 160,000 | $ (24,130) | -15.08% |
| Total Stockholder's equity | $ 301,860 | $ 270,000 | $ 31,860 | 11.80% |
| Total liabilities and stockholder's equity | $ 515,900 | $ 425,000 | $ 90,900 | 21.39% |
.
Alternate answer with % in 0 decimal
| Increase or (Decrease) | Increase or (Decrease) | |||
| 2020 | 2019 | Amount | Percentage | |
| Assets | ||||
| Current assets | $ 122,000 | $ 100,000 | $ 22,000 | 22% |
| Plant assets(net) | $ 393,900 | $ 325,000 | $ 68,900 | 21% |
| Total Assets | $ 515,900 | $ 425,000 | $ 90,900 | 21% |
| Liabilities | ||||
| Current liabilities | $ 86,030 | $ 70,000 | $ 16,030 | 23% |
| Long-term liabilities | $ 128,010 | $ 85,000 | $ 43,010 | 51% |
| Total liabilities | $ 214,040 | $ 155,000 | $ 59,040 | 38% |
| Stockholder's equity | ||||
| Common stock, $1 par | $ 165,990 | $ 110,000 | $ 55,990 | 51% |
| Retained earnings | $ 135,870 | $ 160,000 | $ (24,130) | -15% |
| Total Stockholder's equity | $ 301,860 | $ 270,000 | $ 31,860 | 12% |
| Total liabilities and stockholder's equity | $ 515,900 | $ 425,000 | $ 90,900 | 21% |
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