horizontal and vertical analysis

TAGUCHI COMPANY Comparative Balance Sheets December 31 Assets 2011 2010 Cash $ 73,000 $ 22,000 Accounts receivable 85,000 76,000 Inventories 170,000 189,000 Land 75,000 100,000 Equipment 260,000 200,000 Accumulated depreciation (66,000) (32,000) Total $597,000 $555,000 Liabilities and Stockholders’ Equity Accounts payable $ 39,000 $ 47,000 Bonds payable 150,000 200,000 Common stock ($1 par) 216,000 174,000 Retained earnings 192,000 134,000 Total $597,000 $555,000 Additional information: 1. Net income for 2011 was $103,000. 2. Cash dividends of $45,000 were declared and paid. 3. Bonds payable amounting to $50,000 were redeemed for cash $50,000. 4. Common stock was issued for $42,000 cash. 5.No equipment was sold during 2011, but land was sold at cost. Instructions: Prepare a statement of cash flows for 2011 using the indirect method. E14-3The comparative condensed balance sheets of Conard Corporation are presented below. CONARD CORPORATION Comparative Condensed Balance Sheets December 31 2012 2011 Assets Current assets $ 74,000 $ 80,000 Property, plant, and equipment (net) 99,000 90,000 Intangibles 27,000 40,000 Total assets $200,000 $210,000 Liabilities and stockholders’ equity Current liabilities $ 42,000 $ 48,000 Long-term liabilities 143,000 150,000 Stockholders’ equity 15,000 12,000 Total liabilities and stockholders’ equity $200,000 $210,000 Instructions: (a) Prepare a horizontal analysis of the balance sheet data for Conard Corporation using 2011 as a base. (b) Prepare a vertical analysis of the balance sheet data for Conard Corporation in columnar form for 2012.

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