XACC 280 Exercise 15-1 (E15-1) XACC 280 Financial information for Blevins Inc. is presented below

XACC 280 E15-1 Financial information for Blevins Inc. is presented below XACC 280 Axia College of University of Phoenix (UoP)

Principles of Accounting: Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2008). Financial Accounting (6th ed.). Hoboken, NJ: Wiley.

December 31, 2009 December 31, 2008

Current assets $125,000 $100,000                                                                           SOLUTION

Plant assets (net) 396,000 330,000

Current liabilities 91,000 70,000

Long-term liabilities 133,000 95,000

Common stock, $1 par 161,000 115,000

Retained earnings 136,000 150,000

Instructions

Prepare a schedule showing a horizontal analysis for 2009 using 2008 as the base year. SOLUTION