The Following Data on Alpha Products, Inc What Was the Percent Increase or Decrease in Net Property

The following data on Alpha Products, Inc. is available.
Alpha Products, Inc
Comparative Balance Sheet
December 31, 2013 and December 31, 2014
$\begin{array}{|l|r|r|}\hline&2014&2013\\\hline \text { Assets: } & & \\\hline \text { Cash } & \$ 45,100 & \$ 48,500 \\\hline \text { Accounts receivable, net } & 59,800 & 101,500 \\\hline \text { Merchandise inventory } & 150,900 & 171,600 \\\hline \text { Property, plant and equipment, net } & 710,500 & 808,800 \\\hline \text { Total assets } & \$ 966,300 & \$ 1,130,400 \\\hline\\\hline \text { Liabilities and stockholders' equity } & & \\\hline \text { Accounts payable } & \$ 108,200 & \$ 151,600 \\\hline \text { Notes payable (current) } & 70,000 & 70,00 \\\hline \text { Bonds payable } & 154,000 & 280,000 \\\hline \text { Common stock, } \$ 10 \text { par } & 420,000 & 420,000 \\\hline \text { Retained earnings } & 214,100 & 208,800 \\\hline \text { Total liabilities and stockholders' equity } & \$ 966,300 & \$ 1,130,400\\\hline\end{array}$
What was the percent increase or decrease in net property, plant and equipment from 2013 to 2014?

A) 12.2% decrease
B) 12.2% increase
C) 13.8% increase
D) 13.8% decrease

Correct Answer:

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