Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Prepare a common size balance sheet for the current years balance sheet and a common size income statement for thr current years income statement using
Prepare a common size balance sheet for the current years balance sheet and a common size income statement for thr current years income statement using excel thousands current year last year 7139 Earth Fit Sports Inc Consolidated Balance Sheet Assets Current assets Cash and cash equivalents Receivables net of allowances Inventories Prepaid expenses Other current assets Total current assets Long term assets Property, Plant and Equipment (net) Investments Deferred income taxes Intangible assets Other long form assets Total long term assets $31430 24,019 4557 5,152 778Z 72.945 $43 291 20.416 3,012 4355 4.244 75,318 56,139 0 117358 450,600 2.135 626.232 49,579 2007 260 472 143 2.675. 520.064 Total assets S090.177 5801982 5,100 26,969 13,667 20.516 66.252 3,900 26,738 8,494 21.753 00.885 Liabilities Current liabilities Current portion of long term debt Accounts payable Accrued liabilities Other current liabilities Total current liabilities Long term liabilities Long term notos payable Other long term debt Deferred income taxes Other long torm liabilities Total long term liabilities Total Habilities Stockholders' equity Common stock Additional paid in capital Other equity increasury stock Retained comings Total stockholders' equity Total flabilities and stockholders'equlty 309.779 137.172 0 17054 464 005 375,881 0 606 12.861 389 348 $530 257 $450 233 640 123,643 (53 862) 38,499 168.920 640 119,870 (20.130) 60,369 151.749 3699.177 SG01982 7139 Earth Fit Sports Inc thousands Retained earnings statement Retained earnings, 1/1 Add net income Less dividends paid Retained earnings 12/31 $60,369 38,130 0 $98.499 Consolidated income statement Net sales Less cost of goods sold (without depreciation) Gross mergin General and administrative expenses Depreciation Operating income Other income (loss) Income before interest and taxes (EBIT) Interest expense Income before taxes Income tax expense (refund) Net income $330,537 113.492 217,045 113,058 32.158 71,829 (2) 71,827 24549 47 278 9.148 $38.130
Prepare a common size balance sheet for the current years balance sheet and a common size income statement for thr current years income statement using excel
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started