Reference no: EM132964981
The comparative balance sheet of Delta Company appears below:
Delta COMPANY
Comparative Balance Sheet
December 31,
Assets 2017 2016
Current assets ................................................................................................... $ 450 $280
Plant assets ....................................................................................................... 550 520
Total assets ................................................................................................. $1,000 $800
Liabilities and stockholders' equity
Current liabilities ............................................................................................... $ 180 $120
Long-term debt ................................................................................................. 250 160
Common stock .................................................................................................. 310 320
Retained earnings ............................................................................................. 260 200
Total liabilities and stockholders' equity .................................................... $1,000 $800
Instructions
Problem (a) Using horizontal analysis, show the percentage change for each balance sheet item using 2016 as a base year.
Problem (b) Using vertical analysis, prepare a common size comparative balance sheet
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