136. Express the following income statement information in common-size percents and in trend percents using 2013 as the base year.
Common-Size Percents
Trend Percents
2013
2014
2013
2014
2013
2014
Sales
$460,000
$540,000
Cost of goods sold
240,000
290,000
Gross profit
$220,000
$250,000
137. A company reports the following comparative income statements:
2014
2013
Net sales
$736,000
$840,000
Cost of goods sold
518,880
571,200
Gross profit
$217,120
$268,800
Operating expenses
104,800
130,000
Net income
$112,320
$138,800
What are the costs of goods sold in common-size percents for 2013 and 2014, respectively?
138. The comparative balance sheet for Golden Co. is shown below. Express these amounts in a comparative, common-size balance sheet.
GOLDEN COMPANY
Comparative Balance Sheets (in $000)
December 31, 2012 – 2014
2012
2013
2014
Cash
$ 49.6
$ 34.2
$ 35.7
Accounts receivable
74.4
85.5
76.5
Merchandise inventory
148.8
125.4
91.8
Plant assets (net)
347.2
324.9
306.0
Total assets
$620.0
$570.0
$510.0
Accounts payable
$117.8
$ 51.3
$ 76.5
Bonds payable
130.2
159.6
107.1
Common stock
266.6
279.3
265.2
Retained earnings
105.4
79.8
61.2
Total liabilities and equity
$620.0
$570.0
$510.0
141. Express the following balance sheets for Alberts Company in common-size percents.
ALBERTS COMPANY
Balance Sheet
December 31, 2013 and 2014
2013
2014
Assets
Cash
$ 22,000
$ 43,000
Accounts receivable
42,000
38,000
Merchandise inventory
52,000
61,000
Prepaid insurance
9,000
6,000
Long-term investments
20,000
49,000
Plant assets (net)
218,000
218,000
Total assets
$363,000
$415,000
Liabilities and Equity
Current liabilities
$ 75,000
$ 62,000
Long-term liabilities
36,000
45,000
Common stock
150,000
150,000
Retained earnings
102,000
158,000
Total liabilities and equity
$363,000
$415,000
139. Express the following income statement information in common-size percents (round to nearest whole percent). Comment on the results.
THORSTEN CORP.
Comparative Income Statement
For Years Ended December 31, 2014 and 2013
2014
2013
Sales
$1,200,000
$1,000,000
Cost of goods sold
804,000
650,000
Gross profit
$ 396,000
$ 350,000
Selling expenses
132,000
120,000
Administrative expenses
180,000
150,000
Net income
$ 84,000
$ 80,000
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