Question : 136. Express the following income statement information in common-size percents and : 1256448

 

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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