Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 2017-2011 ($ thousands) Sales Cost of goods sold Gross profit Operating expenses Net income 2017

image text in transcribedimage text in transcribedimage text in transcribed

HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 2017-2011 ($ thousands) Sales Cost of goods sold Gross profit Operating expenses Net income 2017 2016 2015 2014 2013 2012 2011 $2,533 $2,219 $2,019 $1,850 $1,727 $1,606 $1,316 772 1,820 1,481 1,274 1,115 1,036 691 249 $ 442 745 735 738 424 $171 $314 713 542 637 245 544 204 356 392 340 HAROUN COMPANY Comparative Balance Sheets December 31, 2017-2011 ($ thousands) AssetS 2017 2016 2015 2014 2013 2012 2011 $ 152 201 209 $ 213 222 219 226 469 3,954 2,879 2,515 ,119 1,9041,617 1,173 as Accounts receivable, net Merchandise inventory Other current assets Long-term investments Plant assets, net Total assets 1,093 1,148 1,039 797 702 665 101 312 86 312 101 312 312 4,839 4,820 4,217 2,378 2,458 2,185 1,875 $10,139 $9,139 $8,036 $5,920 $5,683 $5,084 $4,100 Liabilities and Equity Current liabilities Long-term liabilities Common stock Other paid-in capital Retained earnings $2,549 $2,144 $1,406 $1,170 $1,015 960 $619 890 1,845 1,845 1,845 1,640 1,640 1,435 1,435 359 797 2,725 2,374 2,310 1,072 1,096 1,186 461 461 461 410 410 2,559 2,315 2,014 1,628 1,522 1,144 Total liabilities and equity $10,139 $9,139 $8,036 $5,920 $5,683 $5,084 $4,100

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions