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Blessed Elena Academy

Sister Oblates of the Holy Spirit

146 Villaruel Street, Pasay City

Mini Task #3 in Business Finance

Horizontal and Vertical Analysis for Balance Sheet and

Income Statement

Submitted by:

Malayan, Daniella Marie R.

12 – Goodness
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Blessed Elena Academy

Sister Oblates of the Holy Spirit

146 Villaruel Street, Pasay City

Vertical Analysis:
PAINTER TOOL COMPANY
Income Statements
December 31, 2020 and December 31, 2019

2020 2019
Amount Percentage Amount Percentage
Net Sales $ 1,818,500 100% $ 1,750,500 100%
Cost of Goods 1,011,500 56% 996,000 57%
Sold
Gross Profit 807,000 44% 754,500 43%
Selling and 499,000 27% 479,000 27%
Administrativ
e expenses
Income from 308,000 17% 275,500 16%
Operations
Other
expenses and
losses
Interest 18,000 99% 14,000 80%
expense
Income before 290,000 16% 261,500 15%
income taxes
Income tax 87,000 5% 77,000 4%
expense
Net Income 203,000 11% 184,500 11%
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Blessed Elena Academy

Sister Oblates of the Holy Spirit

146 Villaruel Street, Pasay City

PAINTER TOOL COMPANY

Balance Sheets
December 31, 2020 and December 31, 2019

2020 2019
Amount Percentage Amount Percentage
Assets
Current Assets
Cash $ 60,100 6.2% $ 64,200 7.5%
Short-term 69,000 7.1% 50,000 5.9%
Investments
Accounts 107,800 11% 102,800 12%
Receivables
(net)
Inventory 133,000 14% 115,500 14%
Total 369,900 38% 332,500 39%
Current Assets
Plant Assets 600,300 62% 520,300 61%
(net)
Total Assets $ 970,200 100% $ 852,800 100%
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Blessed Elena Academy

Sister Oblates of the Holy Spirit

146 Villaruel Street, Pasay City

2020 2019
Amount Percentage Amount Percentage
Liabilities and
Stakeholder’s
Equity
Current
Liabilities
Accounts $ 160,000 16% $ 145,400 17%
Payable
Income 43,500 4.5% 42,000 4.9%
Taxes Payable
Total 21% 187,40#0 22%
Current 203,500
Liabilities
Bonds Payable 200,000 20.7% 200,000 23.5%
Total 403,500 41.6% 387,400 45.4%
Liabilities
Stockholder’s
Equity
Common 280,000 20.6% 300,000 35.2%
stock ($5 par)
Retained 286,700 29.6% 165,400 19.4%
earnings
Total 456,400 54.6%
Stockholder’s 566,700 58.4%
Equity
Total
Liabilities and
Stockholder’s $ 970,200 100% $ 852,800 100%
Equity
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Blessed Elena Academy

Sister Oblates of the Holy Spirit

146 Villaruel Street, Pasay City

Horizontal Analysis:
PAINTER TOOL COMPANY
Income Statements
December 31, 2019 and December 31, 2020

2020 2019 Change in Percentage

Amount
Net Sales $ 1,818,500 $ 1,750,500 68,000 4%
Cost of Goods 1,011,500 996,000 15,500 2%
Sold
Gross Profit 807,000 754,500 52,500 7%
Selling and 499,000 479,000 20,000 4%
Administrativ
e expenses
Income from 308,000 275,500 33,000 12%
Operations
Other
expenses and
losses
Interest 18,000 14,000 4,000 29%
expense
Income before 290,000 261,500 28,500 11%
income taxes
Income tax 87,000 77,000 10,000 13%
expense
Net Income 203,000 184,500 18,500 10%
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Blessed Elena Academy

Sister Oblates of the Holy Spirit

146 Villaruel Street, Pasay City

2020 2019 Change in Percentage

Amount
Assets
Current Assets
Cash $ 60,100 $ 64,200 -4,100 -6.39%
Short-term 69,000 50,000 19,000 38%
Investments
Accounts
Receivables 107,800 102,800 5,000 4.86%
(net)
Inventory 133,000 115,500 17,500 15.15%
Total 369,900 332,500 37,400 11.25%
Current Assets
Plant Assets 600,300 520,300 80,000 15.38%
(net)
Total Assets $ 970,200 $ 852,800 117,400 13.77%
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Blessed Elena Academy

Sister Oblates of the Holy Spirit

146 Villaruel Street, Pasay City

2020 2019 Change in Percentage

Amount
Liabilities and
Stakeholder’s
Equity
Current
Liabilities
Accounts $ 160,000 $ 145,400 14,600 10%
Payable
Income 43,500 42,000 1,500 3.57%
Taxes Payable
Total
Current 203,500 187,400 16,100 8.59%
Liabilities
Bonds Payable 200,000 200,000 0 0%
Total 403,500 387,400 16,100 4.16%
Liabilities
Stockholder’s
Equity
Common 280,000 300,000 -20,000 -6.67%
stock ($5 par)
Retained 286,700 165,400 121,300 73.33%
earnings
Total
Stockholder’s 566,700 456,400 101,300 21.77%
Equity
Total
Liabilities and
Stockholder’s $ 970,200 $ 852,800 117,400 13.77%
Equity
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Blessed Elena Academy

Sister Oblates of the Holy Spirit

146 Villaruel Street, Pasay City