Problem 14-2A The following condensed information is available for Brick Brewing Company Ltd.: BRICK BREWING COMPANY LTD. Statement of Financial Position January 31 (in thousands) 2016 2015 2014 Assets $394 6,176 3,291 355 $595 6,492 3,401 350 $-0- 5,865 3,951 396 -0- -0- 3,406 Cash Accounts receivable Inventory Prepaids Assets held for sale Current assets Non-current assets Total assets Liabilities and Shareholders' Equity Liabilities Current liabilities Non-current liabilities Total liabilities Shareholders' equity Total liabilities and shareholders' equity 10,216 38,624 $48,840 10,838 34,096 $44,934 13,618 32,751 $46,369 $6,855 6,460 13,315 $6,335 4,217 10,552 34,382 $44,934 $9,302 4,554 13,856 32,513 $46,369 35,525 $48,840 RCES PRINTER VERSION 2014 $37,674 27,857 9,817 8,399 in thousands) 2016 Net sales $37,610 Cost of goods sold 27,076 Gross profit 10,534 Operating expenses 8,008 Gain on sale of non-current assets (205) Income from operations 2,731 Interest expense 479 Income before income tax 2,252 658 Income tax expense $1,594 Net income 2015 $36,333 26,136 10,197 8,075 (436) 2.558 535 2,023 628 $1.395 1,418 692 726 201 $525 tudy (a) Using vertical analysis, calculate the percentage of the base amount for the statement of financial position and income statement for each year. (Round answer to 1 place, e.g. 5.296. Enter negative amounts using either a negative sign preceding the number e.g. -45.19 or parenthesis e.. (45.1). If an answer is see enter o. Do not leave any fields blank.) BRICK BREWERY COMPANY LTD. Vertical Analysis of Statement of Financial Position January 31 (in thousands) 2016 2015 2014 96 $ $ 0 Assets 595 394 PRINTER 2016 2015 2014 $ % $ $ Assets Cash 394 595 0 Accounts receivable 6,176 6,492 5,865 Inventory 3,291 3,401 3,951 Prepaids 355 350 396 Assets held for sale 0 0 3,406 Current assets 10,216 10,838 13,618 38,624 Non-current assets 32,751 34,096 48,840 44,934 46,369 Total assets Liabilities and Shareholders' Equity 9,302 6,335 6,855 Current liabilities 4,554 4,217 6,460 Non-current liabilities 13,856 10.552 13,315 Total liabilities 32,513 34,382 35,525 Shareholders' equity 46,369 48,840 44,934 Total liabilities and shareholders' equity t- Total liabilities and shareholders' equity 48,840 44,934 46,369 46,369 BRICK BREWERY COMPANY LTD. Vertical Analysis of Income Statement Year Ended January 31 (in thousands) 2016 2015 % % 2014 % Net sales 37,610 36,333 37,674 Cost of sales 27,076 26,136 27,857 Gross profit 10,534 10,197 9,817 Operating expenses 8,008 8,075 8,399 udy Gain on sale of non-current assets (205) (436) 0 Income from operations 2,731 2,558 1,418 Interest expense 479 535 692 Income before income tax 2,252 2,023 726 658 Income tax expense 201 628 1,395 1,594 525 Net income