Please answer questions 13 and fill out both charts columns

Please answer questions 1-3 and fill out both charts columns ( Different and % Change) as well as the (percentage). I can\'t award credit if all questions and charts are not completed.

Balance sheet data for Silver Corporation are presented here.
Using Comparative Analysis

SILVERT CORPORATION

Balance Sheet

December 31

Different

% Change

2012

2011

ASSET

Cash

$                28,000

$             20,000

Receivable (net)

70,000

62,000

Other current assets

90,000

73,000

Long-term investment

62,000

60,000

Plant and equipment (net)

510,000

470,000

Total Assets

$          760,000

$        685,000

LIABILITIES AND STOCKHOLDERS\' EQUITY

Current liabilities

$                75,000

$             70,000

Long-term debt

80,000

90,000

Common stock

330,000

300,000

Retained earnings

275,000

225,000

760,000

685,000

Income Statement Date for Paul’s Guitar Shop Inc.
Using Common Size

Revenue

Percentage

Merchandise sales

$24,800

Other Income

    3,000

Total Revenues

$27,800

Expenses

Office supplies

10,200

Depreciation expenses

   2,000

Wage expense

      750       

Rent expense

      500

Interest expense

      500

Supplies expense

     500

Utilities

     400

Total Expenses

14,850

Net Profit

$12,950

INSTRUCTIONS:

1] Use the balance sheet and apply the comparative analysis to determine the difference and % change.

2] Use the income statement and apply the common size to determine the % change.

3] Please provide the interpretation on both statements analysis.

Balance sheet data for Silver Corporation are presented here. Using Comparative Analysis
SILVERT CORPORATION
Balance Sheet
December 31
			Different	% Change
	2012	2011
ASSET
Cash	$                28,000	$             20,000
Receivable (net)	70,000	62,000
Other current assets	90,000	73,000
Long-term investment	62,000	60,000
Plant and equipment (net)	510,000	470,000
Total Assets	$          760,000	$        685,000
LIABILITIES AND STOCKHOLDERS\' EQUITY
Current liabilities	$                75,000	$             70,000
Long-term debt	80,000	90,000
Common stock	330,000	300,000
Retained earnings	275,000	225,000
	760,000	685,000

Solution

1) SILVERT CORPORATION Balance Sheet 31-Dec Difference % Change 2012 2011 ASSET Cash 28000 20000 8000 40.00% Receivable (net) 70000 62000 8000 12.90% Other current assets 90000 73000 17000 23.29% Long-term investment 62000 60000 2000 3.33% Plant and equipment (net) 510000 470000 40000 8.51% Total Assets 760000 685000 75000 10.95% LIABILITIES AND STOCKHOLDERS\' EQUITY Current liabilities 75000 70000 5000 7.14% Long-term debt 80,000 90,000 -10000 -11.11% Common stock 330,000 300,000 30000 10.00% Retained earnings 275,000 225,000 50000 22.22% Total liabilities and stockholders\' equity 760,000 685,000 75000 10.95% 2) Income Statement Date for Paul’s Guitar Shop Inc. Using Common Size Revenue Percentage Merchandise sales 24800 89.21% Other Income     3,000 10.79% Total Revenues 27800 100.00% Expenses Office supplies 10200 36.69% Depreciation expenses    2,000 7.19% Wage expense       750 2.70% Rent expense       500 1.80% Interest expense       500 1.80% Supplies expense      500 1.80% Utilities      400 1.44% Total Expenses 14,850 53.42% Net Profit 12950 46.58% 3) SILVERT CORPORATION: The total assets has increased by 10% The increase is mainly in current assets. The total current assets has increased by 21.2% [(188000-155000)/155000]       LT debt has been repaid to the extent of 10%. The required funds for the increase in assets and payment of long term debt has mainly come from common equity and net income. PAUL\'S GUITAR SHOP: Out of the revenues, merchandise sales constitutes 89.21%. The major expense is office supplies which accounts for 36.69% of total revenues; depreciation is 7.19% and wages is 2.7%. other expenses are trivial. The total expense is 53.42% of revenue and the Net Profit 46.58% of revenue.