Required:
1-a. Prepare a classified consolidated statement of income (with earnings per share) for the current year. Number of shares outstanding used in computation of earnings per share was 48,338.
1-b. Prepare a consolidated balance sheet for the current year.
2. Compute gross profit percentage and return on assets. Total assets at the beginning of the year was $737,545.
Prepare a classified consolidated statement of income (with earnings per share) for the current year. Number of shares outstanding used in computation of earnings per share was 48,338. (Enter your answers in thousands. Round "Basic earnings per share" to 2 decimal places.)
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| | | POOL CORPORATION, INC. | | Consolidated Statement of Income | | For the Year Ended December 31, Current Year | | (In Thousands Except Per Share Amounts) | | Net sales | $1,811,318 | | Cost of sales | 1,270,728 | | | | | Gross profit | 540,590 | | Prepaid expenses and other current assets | 23,845 | | Selling and administrative expenses | 407,513 | | | | | Interest expense | 7,935 | | | | | Income before income taxes | | | Provision for income taxes | 45,859 | | | | | Net income | | | Earnings per share: | | | Basic earnings per share | | | Weighted average shares outstanding | 48,338 | |
Prepare a consolidated balance sheet for the current year. (Amounts to be deducted should be indicated by a minus sign. Enter your answers in thousands.)
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| | | POOL CORPORATION, INC. | | Consolidated Balance Sheet | | | | (in Thousands) | | Assets | | Current assets: | | | | | | | | | | | | | | | | | | Total current assets | $0 | | Noncurrent assets: | | | | | | | | | | | | | | | Total assets | $0 | | Liabilities and Stockholders Equity | | Current liabilities: | | | | | | | | | | | | | | | Total current liabilities | $0 | | Noncurrent liabilities: | | | | | | | | | | | | Total noncurrent liabilities | $0 | | Stockholders' equity: | | | | | | | | | | | | | | | Total stockholders' equity | $0 | | Total liabilities and stockholders' equity | $0 | |
Compute gross profit percentage and return on assets. Total assets at the beginning of the year was $737,545. (Enter your answers in thousands. Round your answers to 1 decimal place.)
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| | | Gross Profit Percentage | | Numerator | | = | | = | 0 | | Denominator | | | | | | | | | | | Return on Assets (ROA) | | Numerator | | = | | = | 0 | | Denominator | | | |
Pool Corporation, Inc., is the world's largest wholesale distributor of swimming pool supplies and equipment. It is a publicly traded corporation that trades on the NASDAQ exchange under the symbol POOL. It sells these products to swimming pool repair and service businesses like Penny's Pool Service & Supply, Inc.; swimming pool builders; and retail swimming pool stores. The majority of these customers are small, family-owned businesses like Penny's. Its trial balance and additional information adapted from a recent year ended December 31 are presented below. All numbers are in thousands. ( 8 03:17:17 $ eBook 20,907 113,255 388,724 23,845 42,708 190,641 30,926 Cash and cash equivalents Receivables, net Product inventories, net Prepaid expenses and other current assets Property and equipment, net Intangible assets Other noncurrent assets, net Accounts payable Accrued expenses and other current liabilities Current portion of long-term debt Long-term debt Other long-term liabilities Common stock Additional paid-in capital Retained earnings Net sales Cost of sales Selling and administrative expenses Interest expense Provision for income taxes $ 178,337 53,938 40 249,100 41,079 83 174,080 35,066 1,811,318 1,270,728 407,513 7,935 45,859 $ 2,543,041 $2,543, 041 Pool Corporation, Inc., is the world's largest wholesale distributor of swimming pool supplies and equipment. It is a publicly traded corporation that trades on the NASDAQ exchange under the symbol POOL. It sells these products to swimming pool repair and service businesses like Penny's Pool Service & Supply, Inc.; swimming pool builders; and retail swimming pool stores. The majority of these customers are small, family-owned businesses like Penny's. Its trial balance and additional information adapted from a recent year ended December 31 are presented below. All numbers are in thousands. ( 8 03:17:17 $ eBook 20,907 113,255 388,724 23,845 42,708 190,641 30,926 Cash and cash equivalents Receivables, net Product inventories, net Prepaid expenses and other current assets Property and equipment, net Intangible assets Other noncurrent assets, net Accounts payable Accrued expenses and other current liabilities Current portion of long-term debt Long-term debt Other long-term liabilities Common stock Additional paid-in capital Retained earnings Net sales Cost of sales Selling and administrative expenses Interest expense Provision for income taxes $ 178,337 53,938 40 249,100 41,079 83 174,080 35,066 1,811,318 1,270,728 407,513 7,935 45,859 $ 2,543,041 $2,543, 041
