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Selected comparative financial statements of Astalon Company follow: Sales Cost of goods sold Gross Profit Selling expenses Administrative expenses Total expenses Income before taxes Income taxes Net income ASTALON COMPANY Comparative Income Statements For Years Ended December 31, 2010, 2009, and 2008 2010 2009 2008 $526,304 $403,192 316,835 255,624 179,072 209,469 147,568 100,728 74,735 55,640 36,934 47,367 35,481 23,223 122,102 91,121 60,157 87,367 56,447 40,571 16,250 $71,117 11,572 $44,875 8,236 $32,335 ASTALON COMPANY Comparative Balance Sheets December 31, 2010, 2009, and 2008 2009 2010 Assets Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity 1. value: 6 points Required: $279,800 2008 $48,242 $38,514 $51,484 0 800 3,620 92,405 97,259 58,047 $140,647 $136,573 $113,151 $20,534 $20,349 $19,801 69,000 69,000 51,000 8,625 8,625 5,667 42,488 38,599 36,683 $140,647 $136,573 $113,151 Compute each year's current ratio. (Round your answers to 1 decimal place.) 1. Current ratio Current ratio Current ratio December 31, 2010: December 31, 2009: December 31, 2008: to to to Check My WorkeBook Links (3) 2. value: 6 points 2. Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income taxes Net income Express the income statement data in common-size percents. (Round your answers to 2 decimal places. Omit the "%" sign in your response.) ASTALON COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2010, 2009, 2008 2010 2009 2008 % % % % % % Check My WorkeBook Links (3) 3. value: 6 points 3. Express the balance sheet data in trend percents with 2008 as the base year. (Round your answers to 2 decimal places. Leave no cells blank - be certain to enter "0" wherever required. Omit the "%" sign in your response.) ASTALON COMPANY Balance Sheet Data in Trend Percents December 31, 2010, 2009, 2008 2010 2009 Assets Current assets Long-term investments Plant assets Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity 2008 % % % % % %