Selected comparative financial statement information of Bluegrass Corporation follows. Required 1. Compute each years current ratio. (Round
Question:
Selected comparative financial statement information of Bluegrass Corporation follows.
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 2012 as the base year. (Round percents to two decimals.)
Analysis Component
4. Comment on any significant relations revealed by the ratios and percentscomputed.
Transcribed Image Text:
BLUEGRASS CORPORATION Comparative Income Statements For Years Ended December 31,2014, 2013, and 2012 2014 2013 2012 08,890 86.175 66,200 89,910 79,825 77,600 22,680 9,790 8,000 14.610 .700 ..1 Selling expenses . . 2 Administrative expenses 16.760 Income before taxes.... Income taxes ..r...ra .. .50,470 45.425 43,900 5,300 Net income$ 44.420 39,515 $ 38.600 6,050 5.910 BLUEGRASS CORPORATION Comparative Balance Sheets December 31,2014, 2013, and 2012 2014 Assets Current assets 54,860 32,660 36,300 Long-term investments Plant assets, net... 112,810 13,660 Total assets$167,670 $148,020 $125,900 1700 0.600 Liabilities and Equity Current liabilities .22,370 $ 19,180 16,500 Common stock ..*. Other paid-in capital.... 46,500 46,500 7,000 13,850 3,850 300 84.950 68,490 61,100 Total liabilities and equity..$167,670 $148,020 $125.900
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Part 1 Current ratio December 31 2014 54860 22370 25 to 1 December 31 2013 32660 19180 17 to 1 Decem...View the full answer
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Related Book For
Fundamental accounting principle
ISBN: 978-0078025587
21st edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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