Question
Selected comparative financial statements of Haroun Company follow. HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 20152009 ($ thousands) 2015 2014 2013 2012
Selected comparative financial statements of Haroun Company follow. |
HAROUN COMPANY | ||||||||||||||||||||||||||||
Comparative Income Statements | ||||||||||||||||||||||||||||
For Years Ended December 31, 20152009 | ||||||||||||||||||||||||||||
($ thousands) | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | |||||||||||||||||||||
Sales | $ | 2,127 | $ | 1,863 | $ | 1,695 | $ | 1,554 | $ | 1,450 | $ | 1,348 | $ | 1,105 | ||||||||||||||
Cost of goods sold | 1,530 | 1,245 | 1,071 | 937 | 871 | 814 | 649 | |||||||||||||||||||||
Gross profit | 597 | 618 | 624 | 617 | 579 | 534 | 456 | |||||||||||||||||||||
Operating expenses | 454 | 355 | 326 | 240 | 208 | 206 | 171 | |||||||||||||||||||||
Net income | $ | 143 | $ | 263 | $ | 298 | $ | 377 | $ | 371 | $ | 328 | $ | 285 | ||||||||||||||
HAROUN COMPANY | |||||||||||||||||||||
Comparative Balance Sheets | |||||||||||||||||||||
December 31, 20152009 | |||||||||||||||||||||
($ thousands) | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | ||||||||||||||
Assets | |||||||||||||||||||||
Cash | $ | 93 | $ | 123 | $ | 127 | $ | 130 | $ | 135 | $ | 133 | $ | 138 | |||||||
Accounts receivable, net | 667 | 700 | 634 | 486 | 428 | 405 | 286 | ||||||||||||||
Merchandise inventory | 2,411 | 1,755 | 1,534 | 1,292 | 1,161 | 986 | 715 | ||||||||||||||
Other current assets | 62 | 56 | 34 | 61 | 52 | 53 | 28 | ||||||||||||||
Long-term investments | 0 | 0 | 0 | 190 | 190 | 190 | 190 | ||||||||||||||
Plant assets, net | 2,950 | 2,939 | 2,571 | 1,451 | 1,499 | 1,333 | 1,143 | ||||||||||||||
Total assets | $ | 6,183 | $ | 5,573 | $ | 4,900 | $ | 3,610 | $ | 3,465 | $ | 3,100 | $ | 2,500 | |||||||
Liabilities and Equity | |||||||||||||||||||||
Current liabilities | $ | 1,557 | $ | 1,309 | $ | 859 | $ | 714 | $ | 620 | $ | 586 | $ | 378 | |||||||
Long-term liabilities | 1,663 | 1,448 | 1,409 | 654 | 668 | 724 | 543 | ||||||||||||||
Common stock | 1,125 | 1,125 | 1,125 | 1,000 | 1,000 | 875 | 875 | ||||||||||||||
Other paid-in capital | 281 | 281 | 281 | 250 | 250 | 219 | 219 | ||||||||||||||
Retained earnings | 1,557 | 1,410 | 1,226 | 992 | 927 | 696 | 485 | ||||||||||||||
Total liabilities and equity | $ | 6,183 | $ | 5,573 | $ | 4,900 | $ | 3,610 | $ | 3,465 | $ | 3,100 | $ | 2,500 | |||||||
Required: | |
1. | Complete the below table to calculate the trend percents for all components of both statements using 2009 as the base year. (Round your percentage answers to 1 decimal place.)
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Selected comparative financial statements of Haroun Company follow. HAROUN COMPANY Comparative Income Statements 2012 937 617 For Years Ended December 31, 2015-2009 2010 2009 ($ thousands) Sales Cost of goods sold 2011 $1,863 $1.695 $1,554 $1,450 $1,348 $1,105 1,071 871 597 456 Gross profit Operating expenses 624 355 Net income S 143 S 263 298 377 371328 285 HAROUN Comparative Balance Sheets December 31, 2015-2009 2015 2014 2013 2012 20112010 2009 S 93 S 123 S127 S 130 S 135 S 133 S 138 2,411 ,755 ,53 1,6 986 715 190 2,950 2,9392,57145,499 1,333 1.143 S 6,183 5,573 4,900 $3,610 $3,465 3,100 2,500 Assets Accounts receable, net Merchandise inventory Other current assets Long-term investments Plant assets, net 667 53 190 190 190 Total assets Liabilities and Equity Current liabilities Long-term liabilities Common stock Other paid-in capital Retained earnings 714 620 S 586 S 378 S 1,557 1,309 S 859 1,663 448 1409 724 875 219 875 219 1,125 25 1,125 1,000 000 281 281 1,557 1410 1,226 992 281 Total liabilities and equity $ 6,183 5,573 $4,900 $3,610 $3,465 $3,100 2,500
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