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Homework answers / question archive / Balance Sheet 2016 2015 2014 Cash 50,000 45000 40,000 Accounts receivable 80,000 70000 60,000 Inventories 180,000 145000 110,000 Plant & equipment 300,000 280000 260,000 Less accumulated depreciation -40,000 -30000 -20,000 Total assets 570,000 510000 450,000 Accounts payable 100,000 125000 150,000 Accrued liabilities 70,000 60000 50,000 Mortgage payable 80,000 40000 60,000 Common stock 130,000 110000 90,000 Retained earnings 190,000 175000 160,000 Total liabilities and equity 570,000 510000 450,000   Income Statement 2014 2015 2016 Net Sales 680,000 600,000 640000 Cost of goods sold 410,000 330,000 370000 Gross profit 270,000 270,000 270000 Operating expenses 190,000 192,000 191000 Operating income 80,000 78,000 79000 Interest expense 7,000 2,000 4500 Profit before taxes 73,000 76,000 74500 Taxes 22,000 22,800 22400 Net income 51,000 53,200 52100   Other data: Cash dividends paid this year were $21,000

Balance Sheet 2016 2015 2014 Cash 50,000 45000 40,000 Accounts receivable 80,000 70000 60,000 Inventories 180,000 145000 110,000 Plant & equipment 300,000 280000 260,000 Less accumulated depreciation -40,000 -30000 -20,000 Total assets 570,000 510000 450,000 Accounts payable 100,000 125000 150,000 Accrued liabilities 70,000 60000 50,000 Mortgage payable 80,000 40000 60,000 Common stock 130,000 110000 90,000 Retained earnings 190,000 175000 160,000 Total liabilities and equity 570,000 510000 450,000   Income Statement 2014 2015 2016 Net Sales 680,000 600,000 640000 Cost of goods sold 410,000 330,000 370000 Gross profit 270,000 270,000 270000 Operating expenses 190,000 192,000 191000 Operating income 80,000 78,000 79000 Interest expense 7,000 2,000 4500 Profit before taxes 73,000 76,000 74500 Taxes 22,000 22,800 22400 Net income 51,000 53,200 52100   Other data: Cash dividends paid this year were $21,000

Accounting

Balance Sheet

2016

2015

2014

Cash

50,000

45000

40,000

Accounts receivable

80,000

70000

60,000

Inventories

180,000

145000

110,000

Plant & equipment

300,000

280000

260,000

Less accumulated depreciation

-40,000

-30000

-20,000

Total assets

570,000

510000

450,000

Accounts payable

100,000

125000

150,000

Accrued liabilities

70,000

60000

50,000

Mortgage payable

80,000

40000

60,000

Common stock

130,000

110000

90,000

Retained earnings

190,000

175000

160,000

Total liabilities and equity

570,000

510000

450,000

 

Income Statement

2014

2015

2016

Net Sales

680,000

600,000

640000

Cost of goods sold

410,000

330,000

370000

Gross profit

270,000

270,000

270000

Operating expenses

190,000

192,000

191000

Operating income

80,000

78,000

79000

Interest expense

7,000

2,000

4500

Profit before taxes

73,000

76,000

74500

Taxes

22,000

22,800

22400

Net income

51,000

53,200

52100

 

Other data:

  • Cash dividends paid this year were $21,000.
  • The change in accumulated depreciation account is the depreciation for the year.

Required:

  1. Using the balance sheets and income statement, prepare a Horizontal common-size analysis for both years.
  2. Comment on significant trends.

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