The comparative condensed balance sheets of Garcia Corporation are presented below:
GARCIA CORPORATION
Comparative Condensed Balance Sheets
December 31
|
2014 |
2013 |
|
|
Assets |
||
|
Current assets |
76,000 |
80,000 |
|
Property, plant, and equipment (net) |
100,000 |
90,000 |
|
Intangibles |
24,000 |
40,000 |
|
Total assets |
200,000 |
210,000 |
|
Liabilities and stockholders’ equity |
||
|
Current liabilities |
40,000 |
48,000 |
|
Long-term liabilities |
140,000 |
150,000 |
|
Stockholders’ equity |
20,000 |
12,000 |
|
Total liabilities and stockholders’ equity |
200,000 |
210,000 |
Instructions:
(a) Prepare a horizontal analysis of the balance sheet data for Garcia Corporation using 2013 as a base. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000). (20%). Round percentages to 1 decimal place, e.g. 12.3%.)
(b) Prepare a vertical analysis of the balance sheet data for Garcia Corporation in columnar form for 2014. (Round percentages to 0 decimal places, e.g. 12%.)