29 Jun Balance Sheet Data in Trend Percents
Question
Fianacial analysis
Problem 17-1A Ratios, common-size statements, and trend percents L.O. P1, P2, P3
[The following information applies to the questions displayed below.]
Selected comparative financial statements of Bennington Company follow:
BENNINGTON COMPANY
Comparative Income Statements
For Years Ended December 31, 2012, 2011, and 2010
2012
2011
2010
Sales
$
457,083
$
350,163
$
243,000
Cost of goods sold
275,164
219,202
155,520
Gross profit
181,919
130,961
87,480
Selling expenses
64,906
48,322
32,076
Administrative expenses
41,137
30,814
20,169
Total expenses
106,043
79,136
52,245
Income before taxes
75,876
51,825
35,235
Income taxes
14,113
10,624
7,153
Net income
$
61,763
$
41,201
$
28,082
BENNINGTON COMPANY
Comparative Balance Sheets
December 31, 2012, 2011, and 2010
2012
2011
2010
Assets
Current assets
$
47,321
$
37,023
$
49,491
Long-term investments
0
1,200
3,960
Plant assets, net
85,231
90,490
53,188
Total assets
$
132,552
$
128,713
$
106,639
Liabilities and Equity
Current liabilities
$
19,353
$
19,178
$
18,662
Common stock
71,000
71,000
53,000
Other paid-in capital
8,875
8,875
5,889
Retained earnings
33,324
29,660
29,088
Total liabilities and equity
$
132,552
$
128,713
$
106,639
references
1.
value:
1.00 points
Problem 17-1A Part 1
Required:
1.
Compute each year’s current ratio. (Round your answers to 1 decimal place.)
Current ratio
December 31, 2012:
to
Current ratio
December 31, 2011:
to
Current ratio
December 31, 2010:
to
eBook Links (3)references
2.
value:
1.00 points
Problem 17-1A Part 2
2.
Express the income statement data in common-size percents. (Percents are rounded to two decimals and thus may not exactly sum to totals and subtotals. Round your answers to 2 decimal places. Omit the “%” sign in your response.)
BENNINGTON COMPANY
Common-Size Comparative Income Statements
For Years Ended December 31, 2012, 2011, and 2010
2012
2011
2010
Sales
%
%
%
Cost of goods sold
Gross profit
Selling expenses
Administrative expenses
Total expenses
Income before taxes
Income taxes
Net income
%
%
%
eBook Links (3)references
3.
value:
1.00 points
Problem 17-1A Part 3
3.
Express the balance sheet data in trend percents with 2010 as the base year. (Round your answers to 2 decimal places. Leave no cells blank – be certain to enter “0” wherever required. Omit the “%” sign in your response.)
BENNINGTON COMPANY
Balance Sheet Data in Trend Percents
December 31, 2012, 2011, and 2010
2012
2011
2010
Assets
Current assets
%
%
%
Long-term investments
Plant assets
Total assets
Liabilities and Equity
Current liabilities
%
%
%
Common stock
Other contributed capital
Retained earnings
Total liabilities and equity
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
About Writedemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Order Now” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.