Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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 $ 2,499 $ 2,188 $ 1,991 $ 1,825 $ 1,703 $ 1,584 $ 1,298
Cost of goods sold 1,797 1,462 1,257 1,100 1,023 956 762
Gross profit 702 726 734 725 680 628 536
Operating expenses 534 418 383 283 245 242 201
Net income $ 168 $ 308 $ 351 $ 442 $ 435 $ 386 $ 335

HAROUN COMPANY

Comparative Balance Sheets

December 31, 20152009

($ thousands)

2015

2014

2013

2012

2011

2010

2009

Assets

Cash

$ 137 $ 181 $ 189 $ 192 $ 200 $ 197 $ 204

Accounts receivable, net

986 1,036 938 719 633 600 423

Merchandise inventory

3,569 2,598 2,270 1,913 1,718 1,459 1,058

Other current assets

92 82 51 91 77 78 41

Long-term investments

0 0 0 281 281 281 281

Plant assets, net

4,366 4,350 3,804 2,147 2,219 1,973 1,693

Total assets

$ 9,150 $ 8,247 $ 7,252 $ 5,343 $ 5,128 $ 4,588 $ 3,700

Liabilities and Equity

Current liabilities

$ 2,302 $ 1,936 $ 1,270 $ 1,057 $ 917 $ 867 $ 559

Long-term liabilities

2,459 2,142 2,084 968 988 1,070 803

Common stock

1,665 1,665 1,665 1,480 1,480 1,295 1,295

Other paid-in capital

416 416 416 370 370 324 324

Retained earnings

2,308 2,088 1,817 1,468 1,373 1,032 719

Total liabilities and equity

$ 9,150 $ 8,247 $ 7,252 $ 5,343 $ 5,128 $ 4,588 $ 3,700

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.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions