Rylander Corporation Comparative Balance Sheets December 31, 2014 and 2013
|
Cash
|
Assets
|
2014
$ 162,400
|
|
2013
$ 81,600
|
|
Accounts receivable (net)
|
|
471,200
|
|
458,400
|
|
Inventory
|
|
1,149,600
|
|
1,189,600
|
|
Property, plant, and equipment (net)
|
|
1,500,000
|
|
1,440,000
|
|
Total assets
|
|
$3,283,200
|
|
$3,169,600
|
|
Liabilities and Stockholders' equity
|
|
Accounts payable
|
$ 535,200
|
|
$ 954,400
|
|
Notes payable (short-term)
|
400,000
|
|
800,000
|
|
Bonds payable
|
800,000
|
|
-
|
|
Common stock, $10 par value
|
800,000
|
|
800,000
|
|
Retained earnings
|
748,000
|
|
615,200
|
|
Total liabilities and stockholders' equity
|
$3,283,200
|
|
$3,169,600
|
Required
1. Prepare schedules showing the amount and percentage changes from 2013 to 2014 for the comparative income statements and the balance sheets. (Round to one deci- mal place.)
2. Prepare common-size income statements and balance sheets for 2013 and 2014. (Round to one decimal place.)
3. ACCoUntinG ConneCtion ? Comment on the results in requirements 1 and 2 by identifying favorable and unfavorable changes in the components and composition of the statements.