Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Refer to the financial statement provided for integrated Inc. Assume the additional for integrated for the year ended December 31,2016. Please see attached fThe following
Refer to the financial statement provided for integrated Inc. Assume the additional for integrated for the year ended December 31,2016. Please see attached
\fThe following financial information is available for International Technologies, Inc.: Consolidated Statements of Ops (USD $) In Thousands NET SALES Cost of sales GROSS PROFIT Selling and administrative expenses Other operating expense, net Facility consolidation expenses Impairment of assets OPERATING INCOME (LOSS) Interest expense Other (income) expense, net Gain on purchase of businesses Refinancing expenses INC (LOSS) FROM CONT OPS BEFORE TAXES Income tax provision (benefit) INCOME (LOSS) FROM CONTINUING OPS Loss from discontinued operations, net of tax Loss on disposal of disc ops, net of tax NET INCOME (LOSS) Consolidated Balance Sheets Thousands CURRENT ASSETS Cash and cash equivalents Receivables, net of allow. of $1,215 and $381, respectively Inventories Prepaid expenses Deferred income taxes TOTAL CURRENT ASSETS PROPERTY, PLANT AND EQUIPMENT, NET OTHER ASSETS TOTAL ASSETS CURRENT LIABILITIES Accounts payable Accrued expenses Current portion of long-term debt TOTAL CURRENT LIABILITIES LONG-TERM DEBT DEFERRED INCOME TAXES OTHER LONG-TERM LIABILITIES TOTAL LIABILITIES Dec. 27, 2014 $1,097,788 $839,946 $257,842 $251,591 $2,441 $14,888 $3,059 ($14,137) $11,615 ($416) ($29,997) $0 $4,660 $2,843 $1,817 ($1,642) ($3,961) ($3,785) Dec. 28, 2013 $929,810 $698,771 $231,039 $205,797 $1,334 $0 $0 $23,909 $10,141 $70 $0 $254 $13,443 ($1,558) $15,001 ($718) $0 $14,283 In Dec. Dec. 27, 28, 2014 2013 $1,064 $136,415 $281,359 $16,119 $34,349 $469,306 $276,720 $66,350 $812,376 $0 $59,692 $79,129 $24,511 $163,331 $319,167 $25,315 $53,525 $561,338 $689 $118,970 $251,691 $15,201 $17,879 $404,430 $201,110 $66,398 $671,938 $0 $58,533 $70,745 $16,818 $146,097 $274,749 $10,994 $49,016 $480,857 Dec. 31, 2014 $109,752 Dec. 31, 2013 $86,033 From Notes to Financial Statements Inventories (USD $) In Thousands Raw materials Dec. 29, 2012 $719,204 $542,700 $176,504 $171,420 $184 $0 $0 $4,901 $8,494 ($748) $0 $0 ($2,846) ($1,083) ($1,763) ($740) $0 ($2,503) Work-in-process Finished goods Supplies and other Valuation to reduce to LIFO (LIFO reserve) Inventories $53,935 $156,365 $340 ($39,034) $281,359 $45,576 $156,554 $319 ($36,790) $251,691Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored 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