Lincoln Com pany Comparative Balance Sheet Decem ber 31. 2003 and 2002 Increase( Decrease) Assets 2003 2002 Amount Percent Current assets $550,000$533000$17,0003.2% Long-term investments Fixed assets(net) Horizontal Analysis: Intangible assets Current year(2003)$550,000 =103.2% Base year(2002)$533,000 Liabilities Current liabilities Increase amount $17,000 =3.2% Long-term liabilities Base year(2002)$533,000 Stockholders'Equity Preferred stock, $100 par 150,000 $ 150,000 Common stock, $10 par 500000500.000 Retained earnings 179,500137,500$42,00030.5% $829,500$787,500$42,00053% 1,139,500$1230500$(91,000)(7.4%) c15-4C15- 4 Lincoln Company Comparative Balance Sheet December 31, 2003 and 2002 Assets Current assets $ 550,000 $ 533,000 $ 17,000 3.2% Long-term investments 95,000 177,500 (82,500) (46.5%) Fixed assets (net) 444,500 470,000 (25,500) (5.4%) Intangible assets 50,000 50,000 — $1,139,500 $1,230,500 $ (91,000) (7.4%) Liabilities Current liabilities $ 210,000 $ 243,000 $ (33,000) (13.6%) Long-term liabilities 100,000 200,000 (100,000) (50.0%) $ 310,000 $ 443,000 $(133,000) (30.0%) Stockholders’ Equity Preferred stock, $100 par $ 150,000 $ 150,000 — Common stock, $10 par 500,000 500,000 — Retained earnings 179,500 137,500 $42,000 30.5% $ 829,500 $ 787,500 $42,000 5.3% $1,139,500 $1230,500 $(91,000) (7.4%) Increase (Decrease) 2003 2002 Amount Percent Horizontal Analysis: Current year (2003) $550,000 Base year (2002) $533,000 = 103.2% Increase amount $17,000 Base year (2002) $533,000 = 3.2%