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Assignment Results

ACG 3073: Copy of Managerial Accounting ACG 3073

Chapt 13-ACG 3073

Score: 1.26 out of 100 points (1.26%)

[The fol/owing inrOm1!’tion applies to the questions displayed below.]

Selected comparative financial statements of Bennington Company follow:

BENNINGTON COMPANY
Comparative Income Statements

For Years Ended December 31,2012,2011, and

2010

2012 2011

$ 538,907 $ 412,847
324,422 260,919

Sales
Cost of goods sold

2010
$ 286,500

183,360
=-,,”.=.-=-= =.==-.=-~

Gross profit 214,485 151,928 103,140
Selling expenses 76,525 56,973 37,818
Administrative expenses 48,502 36,331 23,780

:’=–“‘=–=””-“”-“‘.:”:’:”=

Total expenses 125,027 93,304 61,598
c..-..,-===

Income before taxes 89,458 58,624 41,542
Income taxes 16,639 12,018 8,433

“‘~-==-=–=- ,…~•..===-=-“”

Net income $ 72,819 $ 46,606 $ 33,109~—==—-=-: 5••–· –~ _E=”=-.~~

BENNINGTON COMPANY
Comparative Balance Sheets

December 31, 2012, 2011, and 2010
2012 2011

Assets

Cu rrent assets
Long-term investments
Plant assets, net

2010

Q $ 48,691 /p $ 38,095 0>$ 50,924
o 500 4,700

91,831 97,858 57,427′

Total assets $ 140,522 $ 136,453
~_c=T::-… ~

Liabilities and Equity

Current liabilities

Common stock

Other paid-in capital
Retained eamings

20,516
72,000
9,000

39,006

20,331
72,000
9,000

35,122

$ 136,453Total liabilities and equity $ 140,522

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$ 113,051

::3::::–:::::’::-‘:”::~_

19,784
54,000
6,000

33,267

$ 113,051

Page 1 of 4

Nadine Gustave

instructions I help

3/25/2013

Assignment Results Page 2 of4

1.

award:
o out of
33.00

points

Required:
1. Compute each year’s current ratio. (Round your answers to 1 decimal place.)

Current ratio
Current ratio
Current ratio

538.907″ to
412,847″ to
286,500″ to

48,691 ”
38,095 ”
50,924 ”

December 31 , 2012:
December 31,2011:
December 31, 2010:

It}Sook Links (3)

Worksheet Learning Objective: 13·P1 Explain and apply methods Learning Objective: 13·P3 Define and apply ratioof horizontal analysis. analysis.

Learning Objeclive: 13·P2 Describe and apply
methods of vertical analysis.

Difficulty: Hard

Required:
1. Compute each year’s current ratio. (Round your answers to 1 decimal place.)

December 31,2012: J
December 31, 2011:
December 31,2010:

Current ratio
Current ratio
Current ratio

2.4±0.1 to
1.9±0.1 to
2.6± 0.1 to

1.0
1.0
1.0

Explanation:

Current ratio December 31,2012: $48,6911 $20,516
December31,2011: $38,095/$20,331
December 31,2010: $50,9241 $19,784

2.4 to 1
1.9to 1
2.6 to 1

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Assignment Results Page 3 of 4

award:
o out of
33.00

. points
2. Express the income statement data in common-size percents. (Round your answers to 2 decimal

places. Omit the “%” sign in your response.)

2.

Sales
Cost of goods sold

Gross profit
Selling expenses
Administrative expenses

Total expenses

Income before taxes
Income taxes

Net income

BENNINGTON COMPANY
Common-Size Comparative Income Statements

For Years Ended December 31,2012,2011, and 2010
2012 2011
538,907Ii % 412,487Ii %
324,422Ii 260.919Ii

2010
286,500Ii %
183,360Ii

214,485Ii
76,525Ii
48,502 Ii

103,140Ii
37,818Ii
23,780Ii

75.00 Ii % 30.00 Ii %42,00 Ii %

Worksheet

tt;eBook Links (3)
._———————_._._—–_._._—_. __ ._———- —-

Difficulty: Hard

Learning Objective: 13-P1 Explain and apply methods Learning Objective: 13-P3 Define and apply ratio
of horizontal analysis. analysis.

Learning Objective: 13-P2 Describe and apply
methods of vertical analysis.

2. Express the income statement data in common-size percents. (Round your answers to 2 decimal
places. Omit the “’10” sign in your response.)

Sales
Cost of goods sold
Gross profit
Selling expenses
Administrative expenses
Total expenses
Income before taxes
Income taxes
Net income
BENNINGTON COMPANY
Common-Size Comparative Income Statements

For Years Ended December 31, 2012, 2011, and 2010
2012 2011
j1OO:00 % j1OifOo %

60..20. ± 0..0.1 I 63.20. ± 0..0.1

I
I

2010
I 100.0.0. %

64.0.0. ± 0..0.1I
I
I
I

,==–=-_-:oo,=;;.=.-='”==~::.::=::.’:.==.~=:::::.==.::;.. .. —- ..-=-‘”>’=,”===::.-::>

I 23.20. ± 0..0.1

39.80. ± 0..0.1
14.20. ± 0..0.1
9.0.0. ± 0..0.1

I
.”,-,=..:::..c=–“‘–” .:.;;.;,=~-===,=:;;..:;===== ___::;====.”‘:””===:::,

I
I
I
I 21.5D±DDr

36.80. ± 0..0.1
13.80. ± 0..0.1

8.80. ± 0..0.1

36.0.0. ± 0..0.1
13.20. ± 0..0.1

8.30. ± 0..0.1

r 16.6D±D.D1 )14.2oTi’i:01 I 14.5D±D.D1
I 3.0.9 ± 0.0.1 I 2.91 ± 0..0.1 I 2.94 ± 0..0.1

==.=c;c.;,’~=~~,=_==””‘=·=.=:;..~·=~==_====·.=.::.;..:,;:=:;==_”=.;=;;;=_=___==='”.’:.;,.-.c=.=~

j13.51 ± 0..0.1 % I 11.29 ± 0..0.1 % 11.56 ± 0..0.1 %

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Assignment Results Page 4 of 4

award:
1.26 out of
34.00
points

3. Express the balance sheet data in trend percents with 2010 as the base year. (Round your answers
to 2 decimal places. Leave no cells blank – be certain to enter “0” wherever required. Omit the
“%” sign in your response.)

3.

Assets

Current assets

Long-term investments

Plant assets

Total assets

Liabilities and Equity
Current liabilities
Common stock
Other contributed

capital

Retained earnings

Total liabilities and
equity

LUbBook links (3)

Worksheet
Difficulty: Hard

BENNINGTON COMPANY
Balance Sheet Data in Trend Percents
December 31.2012,2011, and 2010

2012 2011 2010

40.000% 55.000% 30.000%
0.00 (; 500.000 4.7000

91.831 0 97.858 0 57.4570

47.055.000 987.123.00 0 5.856.000
e:–==-,~ _5.

50.000% 45.000% 85.000%
895.000 2.256.000 8.795.000

586.000 897.00. 854.000

325.000 854.000 898.000

Learning Objective: 13-P1 Explain and apply methods Learning Objective: 13-P3 Define and apply ratio
of horizontal analysis. analysis.
Learning Objective: 13-P2 Describe and apply
methods of vertical analysis.
3. Express the balance sheet data in trend percents with 2010 as the base year. (Round your answers
to 2 decimal places. Leave no cells blank – be certain to enter “0” wherever required. Omit the
“%” sign in your response.)
Assets
Current assets

Long-term
investments

Plant assets
Total assets

Liabilities and
Equity

Current liabilities
Common stock

Other contributed
capital

Retained earnings
Total liabilities and
equity

BENNINGTON COMPANY
Balance Sheet Data in Trend Percents
December 31, 2012, 2011, and 2010

2012 2011 2010

100.00 ± 0.01 %I 95.62 ± 0.01 % 74.81 ± 0.01 %
I 0.00 ± 0.01 10.64 ± 0.01
I 159.91 ± 0.01 170.40 ± 0.01

100.00

100.00 ± 0.01

124.30 ± 0.01 120.70 ± 0.01 100.00 ± 0.01

103.70 ± 0.01 % I 102.76 ± 0.01 % I 100.00 ± 0.01 %
133.33 ± 0.01 133.33 ± 0.01 100.00 ± 0.01

150.00 ± 0.01 150.00 ± 0.01 100.00 ± 0.01

117.25 ± 0.01 105.58 ± 0.01 100.00 ± 0.01

124.30 ± 0.01 120.70 ± 0.01 100.00 ± 0.01

C:i: .

©2012 The McGraw·HiII Companies. All rights reserved.

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