Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Selected comparative financial statements of Haroun Company follow. ($ thousands) Sales Cost of goods sold Gross profit Operating expenses Net income HAROUN COMPANY Comparative Income

image text in transcribed
image text in transcribed
Selected comparative financial statements of Haroun Company follow. ($ thousands) Sales Cost of goods sold Gross profit Operating expenses Net income HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 2019-2013 2019 2018 2017 2016 2015 2014 2013 $2,462 $2,156 $1,962 $1,798 $1,678 $1,560 $1,279 1,771 1,239 1,084 1,008 943 757 691 716 723 714 670 617 528 526 411 377 278 241 238 198 $ 165 $305 $ 346 5 436 $ 429 $ 379 $ 330 1,440 HAROUN COMPANY Comparative Balance Sheets December 31, 2019-2013 2019 2018 2017 2016 2015 2014 2013 (s thousands) Assets Cash Accounts receivable, net Merchandise inventory Other current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current Habilities Long-term liabilities Common stock Other paid-in capital Retained earnings $ 119 $ 157 $ 163 $ 166 $ 173 853 896 811 622 548 3,086 2,247 1,963 1,654 1,486 79 71 44 79 67 0 243 243 3,762 3,291 1,857 1,918 $7,914 $7,133 $6,272 $4,621 $4,435 $ 171 $ 176 519 366 1,262 915 67 35 243 243 1,706 1,465 $3,968 $3,200 3,772 $1,989 $1,673 $1,097 $ 913 2,125 1,851 1,801 836 2,440 1,440 1,440 1,280 360 360 360 320 2,000 2,809 1.574 1,272 $ 792 854 1,280 320 1, 189 $ 749 925 1,120 $ 483 694 1,120 280 623 280 894 omework Saved ZUI 2010 2015 853 thousands Assets Cash Accounts receivable, net Merchandise inventory Other current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Long-tern liabilities Common stock Other paid in capital Retained earnings Total liabilities and equity $ 119 $ 157 F 163 $ 1665 173 $ 171 176 896 311 622 548 519 366 3.086 2,247 1,963 1,654 1,486 1,262 915 79 71 79 67 67 35 243 24 243 3.777 3.262 3,201 1.857 1,211 1.465 $7,914 17.1)) 36,272 $4,621 54,4553,968 33,200 1.706 OR nh $1,989 $1,673 $1,097 5 913 $ 792 $ 249 483 2,125 1,351 1.801 836 354 925 694 1.400 1,440 1,440 1,280 1,280 1,120 1,120 360 360 360 320 320 280 280 2.000 3,574 894 623 $7,914 97,133 $6,272 $4,621 $4,435 53,968 33,200 CE 1,272 Required: 1. Complete the below table to calculate the trend percents for all components of both statements using 2013 as the base year 2. Refer to the results from part 1 (Did sales grow steadily over this period? () Did net income as a percent of sales grow over the past four years? (Did inventory increase over this period? Complete this question by entering your answers in the tabs below. Required: Comp 15 Required Comp 05 Required 2 Complete the below table to calculate the trend percents for all components of comparative Income statements in 2013 as the base year. (Round your percentage answers to I decimal place.) HAROUN COMANY

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

Gleim CIA Review Part 2 Practice Of Internal Auditing

Authors: Irvin N. Gleim

2020 Edition

1618542648, 978-1618542649

More Books

Students also viewed these Accounting questions

Question

Write formal and informal proposals.

Answered: 1 week ago

Question

Describe the components of a formal report.

Answered: 1 week ago

Question

Write formal and informal reports.

Answered: 1 week ago