Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman

Exercise 41

Use the following financial information to calculate the owner's equity and prepare abalance sheet with vertical analysis as of December 31,2014, for Uniflex Fabricators, Inc., a sole proprietorship owned by Paul Provost: current assets, $132,500; properly, plan), and equipment, $88,760; investments and other assets, $32,400; current liabilities, $51,150; and long-term liabilities, $87,490.
Uniflex Fabricators, Inc.
Balance Sheet
As of December 31, 2014
b. The following financial information is for Uniflex Fabricators, Inc., as of December 31, 2015. Calculate the owner's equity for 2015 and prepare a comparative balance sheet with horizontal analysis for 2014 and 2015: current assets, $154,300; property, plant, and equipment, $124,650; investments and other assets, $20,000; current liabilities, $65,210; and long-term liabilities, $83,800.
Uniflex Fabricators, Inc.
Comparative Balance Sheet
As of December 31, 2014 and 2015