Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Selected comparative financial statements of Haroun Company follow. HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 20172011 ($ thousands) 2017 2016 2015 2014
Selected comparative financial statements of Haroun Company follow.
HAROUN COMPANY | |||||||||||||||||||||
Comparative Income Statements | |||||||||||||||||||||
For Years Ended December 31, 20172011 | |||||||||||||||||||||
($ thousands) | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||
Sales | $ | 1,648 | $ | 1,443 | $ | 1,313 | $ | 1,204 | $ | 1,123 | $ | 1,044 | $ | 856 | |||||||
Cost of goods sold | 1,184 | 963 | 828 | 725 | 674 | 630 | 502 | ||||||||||||||
Gross profit | 464 | 480 | 485 | 479 | 449 | 414 | 354 | ||||||||||||||
Operating expenses | 353 | 276 | 253 | 187 | 162 | 160 | 133 | ||||||||||||||
Net income | $ | 111 | $ | 204 | $ | 232 | $ | 292 | $ | 287 | $ | 254 | $ | 221 | |||||||
HAROUN COMPANY | |||||||||||||||||||||
Comparative Balance Sheets | |||||||||||||||||||||
December 31, 20172011 | |||||||||||||||||||||
($ thousands) | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||
Assets | |||||||||||||||||||||
Cash | $ | 130 | $ | 172 | $ | 178 | $ | 182 | $ | 189 | $ | 187 | $ | 193 | |||||||
Accounts receivable, net | 933 | 980 | 887 | 680 | 599 | 568 | 400 | ||||||||||||||
Merchandise inventory | 3,376 | 2,458 | 2,147 | 1,809 | 1,625 | 1,380 | 1,001 | ||||||||||||||
Other current assets | 87 | 78 | 48 | 86 | 73 | 74 | 39 | ||||||||||||||
Long-term investments | 0 | 0 | 0 | 266 | 266 | 266 | 266 | ||||||||||||||
Plant assets, net | 4,130 | 4,114 | 3,600 | 2,031 | 2,099 | 1,865 | 1,601 | ||||||||||||||
Total assets | $ | 8,656 | $ | 7,802 | $ | 6,860 | $ | 5,054 | $ | 4,851 | $ | 4,340 | $ | 3,500 | |||||||
Liabilities and Equity | |||||||||||||||||||||
Current liabilities | $ | 2,178 | $ | 1,832 | $ | 1,202 | $ | 1,000 | $ | 868 | $ | 820 | $ | 529 | |||||||
Long-term liabilities | 2,327 | 2,027 | 1,972 | 916 | 936 | 1,013 | 760 | ||||||||||||||
Common stock | 1,575 | 1,575 | 1,575 | 1,400 | 1,400 | 1,225 | 1,225 | ||||||||||||||
Other paid-in capital | 394 | 394 | 394 | 350 | 350 | 306 | 306 | ||||||||||||||
Retained earnings | 2,182 | 1,974 | 1,717 | 1,388 | 1,297 | 976 | 680 | ||||||||||||||
Total liabilities and equity | $ | 8,656 | $ | 7,802 | $ | 6,860 | $ | 5,054 | $ | 4,851 | $ | 4,340 | $ | 3,500 | |||||||
Required: 1. Complete the below table to calculate the trend percents for all components of both statements using 2011 as the base year. (Round your percentage answers to 1 decimal place.)
Complete this question by entering your answers in the tabs below.
- Comp IS
- Comp BS
Complete the below table to calculate the trend percents for all components of comparative income statements using 2011 as the base year.
|
Step 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