E14-3 The comparative condensed balance sheets of Garcia Corporation are presented below.

E14-3 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

 

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%.)

GARCIA CORPORATION Condensed Balance Sheets December 31
	2014	2013	Increase (Decrease)	Percentage Change from 2013
Assets
Current Assets	$76,000	$80,000
Property, Plant & 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

 

(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%.)

GARCIA CORPORATION Condensed Balance Sheet December 31, 2014
	Amount	Percent
Assets
Current Assets	$76,000
Property, Plant, and Equipment (net)	100,000
Intangibles	24,000
Total assets	$200,000
Liabilities and Stockholders' Equity
Current Liabilities	$40,000
Long-term Liabilities	140,000
Stockholders' Equity	20,000
Total liabilities and stockholders' equity	$200,000

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(a)
 

GARCIA CORPORATION

                                                           Condensed Balance Sheets
                                                                          31-Dec

	2014	2013	Increase	Percentage Change
			(Decrease)	from 2011
Assets
Current assets	76,000	80000	(4,000)	-5.00%
Property, plant & equipment (net)	100,000	90,000	10,000	11.11%

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