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Category > Management Posted 18 Jan 2018 My Price 8.00

Bennington Company

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	$444,000	$340,000	$236,000
Cost of goods sold	267,288	212,500	151,040
Gross profit	176,712	127,500	84,960
Selling expenses	62,694	46,920	31,152
Administrative expenses	40,137	29,920	19,470
Total expenses	102,831	76,840	50,622
Income before taxes	73,881	50,660	34,338
Income taxes	13,764	10,370	6,962
Net income	$ 60,117	$ 40,290	$ 27,376

BENNINGTON COMPANY Comparative Balance Sheets December 31,2012,2011 and 2010
	2012	2011	2010
Assets
Current assets	$ 48,480	$ 37,924	$ 50,648
Long-term investments	0	500	3,720
Plant assets, net	90,000	96,000	57,000
Total assets	$138,480	$134,424	$111,368
Liabilities and Equity
Current liabilities	$ 20,200	$ 19,960	$ 19,480
Common stock	72,000	72,000	54,000
Other paid-in capital	9,000	9,000	6,000
Retained earnings	37,280	33,464	31,888
Total liabilities and equity	$138,480	$134,424	$111,368

Required

1. Compute each year’s current ratio. (Round ratio amounts to one decimal.)

2. Express the income statement data in common-size percents. (Round percents to two decimals.)

3. Express the balance sheet data in trend percents with 2010 as the base year. (Round percents to two decimals.)

4. Comment on any significant relations revealed by the ratios and percents computed.

Answers

Maurice Tutor

(5)

Status NEW Posted 18 Jan 2018 07:01 PM My Price 8.00

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