Selected comparative financial statements of Bennington Company follow: BENNINGTON COMPANY Comparative Income Statements For Years Ended December 31, 2012, 2011, and 2010 2012 2011 2010 Sales $ 380,338 $ 291,370 $ 202,200 Cost of goods sold 228,963 182,980 129,408 Gross profit 151,375 108,390 72,792 Selling expenses 54,008 40,209 26,690 Administrative expenses 34,230 25,641 16,783 Total expenses 88,238 65,850 43,473 Income before taxes 63,137 42,540 29,319 Income taxes 11,743 8,721 5,952 Net income $ 51,394 $ 33,819 $ 23,367 BENNINGTON COMPANY Comparative Balance Sheets December 31, 2012, 2011, and 2010 2012 2011 2010 Assets Current assets $ 48,929 $ 38,281 $ 51,173 Long-term investments 0 900 3,300 Plant assets, net 92,281 97,939 59,131 Total assets $ 141,210 $ 137,120 $ 113,604 Liabilities and Equity Current liabilities $ 20,617 $ 20,431 $ 19,881 Common stock 65,000 65,000 47,000 Other paid-in capital 8,125 8,125 5,222 Retained earnings 47,468 43,564 41,501 Total liabilities and equity $ 141,210 $ 137,120 $ 113,604 references Section Break Difficulty: Hard Learning Objective: 17-P2 Describe and apply methods of vertical analysis. Problem 17-1A Ratios, common-size statements, and trend percents L.O. P1, P2, P3 Learning Objective: 17-P1 Explain and apply methods of horizontal analysis. Learning Objective: 17-P3 Define and apply ratio analysis. 1. value: 1 points Problem 17-1A Part 1 Required: 1. Compute each year's current ratio. (Round your answers to 1 decimal place.) Current ratio December 31, 2012: to Current ratio December 31, 2011: to Current ratio December 31, 2010: to eBook Links (3)references Worksheet Difficulty: Hard Learning Objective: 17-P2 Describe and apply methods of vertical analysis. Problem 17-1A Part 1 Learning Objective: 17-P1 Explain and apply methods of horizontal analysis. Learning Objective: 17-P3 Define and apply ratio analysis. 2. value: 1 points Problem 17-1A Part 2 2. Express the income statement data in common-size percents. (Percents are rounded to two decimals and thus may not exactly sum to totals and subtotals. Round your answers to 2 decimal places. Omit the "%" sign in your response.) BENNINGTON COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2012, 2011, and 2010 2012 2011 2010 Sales % % % Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income taxes Net income % % % eBook Links (3)references Worksheet Difficulty: Hard Learning Objective: 17-P2 Describe and apply methods of vertical analysis. Problem 17-1A Part 2 Learning Objective: 17-P1 Explain and apply methods of horizontal analysis. Learning Objective: 17-P3 Define and apply ratio analysis. 3. value: 1 points Problem 17-1A Part 3 3. Express the balance sheet data in trend percents with 2010 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.) BENNINGTON COMPANY Balance Sheet Data in Trend Percents December 31, 2012, 2011, and 2010 2012 2011 2010 Assets Current assets % % % Long-term investments Plant assets Total assets Liabilities and Equity Current liabilities % % % Common stock Other contributed capital Retained earnings Total liabilities and equity