Problem 17-1A Calculation and analysis of trend percents LO A1, P1 Selected comp
ID: 2412850 • Letter: P
Question
Problem 17-1A Calculation and analysis of trend percents LO A1, P1 Selected comparative financial statements of Haroun Company follow. HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 2017-2011 ($ thousands) Sales Cost of goods sold Gross profit Operating expenses Net income 2017 2016 2015 2014 20132012 2011 $1,833 $1,605 $1,460 $1,339 $1,249 $1,161 $ 952 702 559 459 393 178 148 $ 122 225 256 324 $ 319 281 $ 245 1,318 1,072 533 308 515 393 9220 538 282 807 532 208 750 499 180 HAROUN COMPANY Comparative Balance Sheets December 31, 2017-2011 2015 2012 ($ thousands) AssetS Cash Accounts receivable, net Merchandise inventory Other current assets Long-term investments Plant assets, net Total assets 2017 2016 2014 2013 2011 5 66882 $ 145 191 $ 199 203 $ 211 208 215 446 3,762 2,738 2,393 2,016 1,8111,538 1,115 43 296 4,602 4,585 4,010 2,263 2,338 2,079 1,785 $9,645 8,693 $7,644 $5,632 $5,405 $4,836 $3,900 1,040 1,092 988 758 633 96 87 54 296 296 296 Liabilities and Equity Current liabilities Long-term liabilities Common stock Other paid-in capital Retained earnings $2,426 $2,040 $1,338 $1,113 $ 966 $914 $589 846 1,755 1,755 1,755 1,560 1,560 1,365 1, 365 341 739 $9,645 8,693 $7,644 $5,632 $5,405 $4,836 $3,900 2,5902,256 2,195 1,019 1,0411,128 439 439 439 390 390 341 2,435 2,203 1,917 1,5501,448 1,088 Total liabilities and equityExplanation / Answer
Haroun Compabny Income stataement trends For years ended December 31,2017-2011 2017 2016 2015 2014 2013 2012 2011 Sales 192.5% 168.6% 153.4% 140.7% 131.2% 122.0% 100% Cost of goods sold 235.8% 191.8% 164.9% 144.4% 134.2% 125.6% 100% Gross profit 131.0% 135.6% 136.9% 135.4% 127.0% 116.8% 100% Operating expenses 265.5% 208.1% 190.5% 140.5% 121.6% 120.3% 100% Net Income 49.8% 91.8% 104.5% 132.2% 130.2% 114.7% 100% Eg : 2012 1161/952 = 122% Rounded of to 1 decimal Haroun Compabny Balance Sheet trends December 31,2017-2011 2017 2016 2015 2014 2013 2012 2011 Assets Cash 67.4% 88.8% 92.6% 94.4% 98.1% 96.7% 100% Accounts Receivable, NET 233.2% 244.8% 221.5% 170.0% 149.8% 141.9% 100% Merchandise Inventory 337.4% 245.6% 214.6% 180.8% 162.4% 137.9% 100% Other Current Assets 223.3% 202.3% 125.6% 223.3% 188.4% 190.7% 100% Long-term Investments 0.0% 0.0% 0.0% 100.0% 100.0% 100.0% 100% Plant assets,net 257.8% 256.9% 224.6% 126.8% 131.0% 116.5% 100% Total Assets 247.3% 222.9% 196.0% 144.4% 138.6% 124.0% 100% Liabilities and equity Current Liabilities 411.9% 346.3% 227.2% 189.0% 164.0% 155.2% 100% Long-term Liabilities 306.1% 266.7% 259.5% 120.4% 123.0% 133.3% 100% Common Stock 128.6% 128.6% 128.6% 114.3% 114.3% 100.0% 100% Other Paid in capital 128.7% 128.7% 128.7% 114.4% 114.4% 100.0% 100% Retained Earnings 320.8% 290.3% 252.6% 204.2% 190.8% 143.3% 100% Total Liabilities and equity 247.3% 222.9% 196.0% 144.4% 138.6% 124.0% 100% example: 2012 cash 208/215 = 96.7%