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3-6. (Working with an income statement and balance sheet) The balance sheet and consolidated income statement for Onno Corporation has been provided. What is the

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3-6. (Working with an income statement and balance sheet) The balance sheet and consolidated income statement for Onno Corporation has been provided. What is the common-sized income statement and balance sheet for both years. Why is an accounting statement of cash flows not common-sized? 2013 39.9 73.5 9.6 36.9 12.0 132.0 171.0 Onno Corporation Consolidated Balance Sheet for Years Ending December 31, and December 31, 2014 (in $ millions) Assets 2013 Liabilities and Stockholders' Equity 2014 Current Assets Current Liabilities Cash 58.5 Accounts payable 87.6 Accounts receivable 55.5 39.6 Notes payable/short-term debt 10.5 Inventories 45.9 42.9 Current maturities of long-term debt Other current assets 6.0 3.0 Other current liabilities 6.0 Total current assets 144.0 Total current liabilities 144.0 Long-Term Assets Long-Term Liabilities Land 66.6 62.1 Long-term debt 239.7 Buildings 109.5 91.5 Capital lease obligations Equipment 99.6 Total Debt 239.7 Less accumulated (56.1) (52.5) Deferred taxes depreciation Net property, plant, and 239.1 200.7 Other long-term liabilities equipment Goodwill - Total long-term liabilities 262.5 Other long-term assets 420 Total liabilities 406.5 Stockholders' Equity 126.6 Total long-term assets Total liabilities and Stockholders' Equity 533.1 Total Assets 168.9 168.9 228 222 323.1 63.6 386.7 Onno Corporation Consolidated Income Statement for Years Ending December 31, 2013 and December 31, 2014 (in $ millions) 2014 2013 Sales 610. 1 578.3 Cost of goods sold (500.2) (481.9) Gross profit 109.9 96.4 Selling, general, and administrative expenses (40.5) (39.0) Research and development (24.6) (22.8) Depreciation and amortization (3.6) (3.3) Operating income Other income Earnings before interest and taxes (EBIT) 31.3 Interest income (expense) (25.1) (15.8) Pre-tax income 15.5 41.2 41.2 Taxes Net income Dividends Paid Price per Share Shares outstanding (millions) Stock options outstanding millions) $16 10.2 0.3 0.2 Stockholders' Equity Total Liabilities and Stockholders' Equity 126.6 533.1 63.6 386.7

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