Selected comparative financial statement information of Sawgrass Corporation follows Required 1. Compute each years current ratio. (Round
Question:
Required
1. Compute each years 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.)
Analysis Component
4. Comment on any significant relations revealed by the ratios and percentscomputed.
Transcribed Image Text:
SAWGRASS CORPORATION Comparative Income Statements For Years Ended December 31, 2012,2011, and 2010 2011 2010 Sales... $199,800 $167,000 $144.800 Cost of goods sold7977600 Gross profit . . .. Selling expenses.. Administrative expenses1770 Total expenses .*.. Income before taxes.. 09,890 87,175 67.200 89,910 67,200 79,825 23,680 20,790 19,000 17760 15,610 16,700 41,440 48.470 43.425 41,900 36.400 35,700 Income taxes 5.050 4.910 4,300 Net income. $43.420 38,515 $37,600 SAWGRASS CORPORATION Comparative Balance Sheets December 31,2012,2011, and 2010 2011 2010 Assets Current assets. Long-term investments. Plant assets, net Total assets $ 55,860 33,660 37.300 0 2700 1.600 113,810 14,660 80,000 $169,670 $151,020 $128,900 .. Liabilities and Equity Current labilities Common stock Other pald-In capital. Retained earnings Total liabilities and equity-… … 23,370 20,180 $ 17,500 47,500 47,500 38,000 14,850 14,850 2,300 83,950 68.490 61,100 $169,670 $151,020 $128.900
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Part 1 Current ratio December 31 2012 55860 23370 24 to 1 December 31 2011 33660 20180 17 to 1 Decem...View the full answer
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Related Book For
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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