1 answer

Happy Days, Inc. Comparative Balance Sheet June 30, 2019 and 2018 Assets Increase (Decrease) 2019 2018...

Question:

Happy Days, Inc.

Comparative Balance Sheet

June 30, 2019 and 2018

Assets

Increase (Decrease)

2019

2018

Amount

Percent

Current assets

$266,000

$190,000

Property, plant, and equipment

428,000

405,000

Intangible assets

24,000

31,000

Total Assets

$718,000

$92,000

14.7%

Liabilities

Current liabilities

$81,000

$85,000

Long-term liabilities

240,000

278,000

Total Liabilities

$321,000

$(42,000)

(11.6%)

Stockholders’ Equity

Common stock

$276,000

$210,000

Retained earnings

121,000

53,000

Total Stockholders’ Equity

$397,000

$134,000

51.0%

Total Liabilities & Stockholders’ Equity

$718,000

$92,000

14.7%

  1. Prepare a comparative balance sheet (horizontal analysis) for June 30, 2019 and 2018. (Round percentages to one decimal place.)
  1. Interpret your findings: Focus on two accounts you find most interesting and explain why. What may have caused the accounts to change?

  1. Vertical Analysis: In 2019 -- Current Assets are what % of Total Assets?   _____________

Answers

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Happy Days, Inc.
Balance Sheet Horizontal Analysis
USD USD Increase or (Decrease)
2019 over 2018
Assets 2019 2018 Dollars Percent Answer a
Total Current Assets    266,000.00     190,000.00      76,000.00 40.0% I find changes in Current Assets interesting. It may be because the company did lot of cash transactions or was unable to cover from accounts receivable in time.
Property, plant, and equipment    428,000.00     405,000.00      23,000.00 5.7%
Intangible assets      24,000.00       31,000.00      (7,000.00) -22.6%
Total Assets    718,000.00    626,000.00     92,000.00 14.7%
Liabilities
Total Current Liabilities      81,000.00       85,000.00      (4,000.00) -4.7%
Long-term liabilities    240,000.00     278,000.00    (38,000.00) -13.7%
Total Liabilities    321,000.00    363,000.00 (42,000.00) -11.6%
Stockholder's Equity
Common Stock    276,000.00     210,000.00      66,000.00 31.4%
Retained Earnings    121,000.00       53,000.00      68,000.00 128.3% I find changes in Retained Earnings interesting.

It may be because the company made lot of sales or tried to reduce its expenses.

Total Stockholder's Equity    397,000.00    263,000.00 134,000.00 51.0%
Total Liabilities and Equity    718,000.00    626,000.00     92,000.00 14.7%
Vertical Analysis
Assets 2019
Total Current Assets    266,000.00
Total Assets    718,000.00
Current Assets % 37.0%
In 2019 Current Assets are 37% of Total Assets.
.

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