Complete the following comparative balance sheet with horizontal analysis for Calypso Industries, Inc.
Calypso Industries, Inc. Comparative Balance Sheet December 31, 2015 and 2016
Assets | 2016 | 2015 | Increase (Decrease) Amount Percent |
Current Assets Cash Accounts Receivable Notes Receivable SuppliesTotal Current Assets | $ 8,700 23,110 2,900 4,540 | $ 5,430 18,450 3,400 3,980 | _____ ______ |
Property, Plant, and Equipment Land Buildings Machinery and Equipment Total Property. Plant and Equipment | 34,00076,30054,700 | 34,00079,80048,900 | _____ _____ |
Investments and Other Assets Total Assets | 54,230 | 49,810 | ______ _____ |
Liabilities and Stockholders' Equity | |||
Current Liabilities Accounts Payable Salaries PayableTotal Current Liabilities | S 15,330 7,680 | $ 19,650 7,190 | _____ ___ |
Long-Term Liabilities Mortgage Payable Note Payable (3-year)Total Long-Term Liabilities | 53,01032,400 | 54,20033,560 | |
Total Liabilities | |||
Liabilities and Stockholders' Equity | 2016 | 2015 | |
Stockholders' Equity Common Stock Retained EarningsTotal Liabilities and Stockholders’ Equity | $130,060 20,000 | $120,1709,000 | _____ ______ |
The complete balance sheet of provided comparative balance sheet of Calypso Industries, Inc. for December
Given Information:
The comparative balance sheet of Calypso Industries, Inc. for December
Formula used:
Follow these steps to prepare a horizontal analysis of a balance sheet:
Step
Step
Step
Step
Step
Compute the amount increase or decrease by subtracting current period amount from the previous period amount.
All other increase and decrease will be computed in the same way.
Calculation for the year
Compute total current assets by substituting cash, accounts receivables, notes receivables and supplies:
Compute total of Property, Plant and Equipment by substituting land, buildings and machinery and equipment:
Compute Total Assets by substituting total current assets, total property plant and equipment and investments:
Compute Total Current Liabilities by substituting accounts payable and salaries payable:
Compute Total Liabilities by substituting total current liabilities and total long-term liabilities:
Compute Total Liabilities and Stockholderâ€™s Equity by substituting total liabilities, common stock and retained earnings:
Calculation for the year
Compute total current assets by substituting cash, accounts receivables, notes receivables and supplies:
Compute total of Property, Plant and Equipment by substituting land, buildings and machinery and equipment:
Compute Total Assets by substituting total current assets, total property plant and equipment and investments:
Compute Total Current Liabilities by substituting accounts payable and salaries payable:
Compute Total Liabilities by substituting total current liabilities and total long-term liabilities:
Compute Total Liabilities and Stockholderâ€™s Equity by substituting total liabilities, common stock and retained earnings:
The required balance sheet is,
Calypso Industries, Inc |
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