Prepare Common-Size financial statements of income statement and balance sheet. Finance date of Adams Stores, Inc. for the year ending 2016 and 2017.Items20162017$3,432,0009,000340,000Sales$5,834,4007,282720,000CashOther ExpensesRetained EarningsLong-term debtCost of goods soldDepreciation203,768323,43297,6321,000,0004,980,000116,9602,864,00018,90048,600491,00062,500Short-term investments20,0001,202,950176,000Fixed AssetsInterest ExpensesShares outstanding (par value =$46.00)100,0008.50100,000Market Price of stock6632,160324,0001,287,360720,000Accounts Receivable351,200Accounts payableInventoryNotes PayableAccumulated Depreciation145,600715,200200,000146,200136,00040%263,160284,96040%AccrualsTax Rate

Finance date of Adams Stores, Inc. for the year ending 2016 and 2017. Items 2016 2017 Sales $3,432,000 $5,834,400 7,282 Cash 9,000 Other Expenses Retained Earnings Long-term debt Cost of goods sold Depreciation Short-term investments 720,000 97,632 1,000,000 4,980,000 116,960 340,000 203,768 323,432 2,864,000 18,900 48,600 491,000 62,500 20,000 1,202,950 Fixed Assets Interest Expenses Shares outstanding (par value = $46.00) 176,000 100,000 8.50 100,000 Market Price of stock 6 Accounts Receivable 351,200 632,160 Accounts payable Inventory Notes Payable Accumulated Depreciation 145,600 324,000 715,200 200,000 146,200 136,000 40% 1,287,360 720,000 263,160 284,960 40% Accruals Tax Rate

Finance date of Adams Stores, Inc. for the year ending 2016 and 2017. Items 2016 2017 Sales $3,432,000 $5,834,400 7,282 Cash 9,000 Other Expenses Retained Earnings Long-term debt Cost of goods sold Depreciation Short-term investments 720,000 97,632 1,000,000 4,980,000 116,960 340,000 203,768 323,432 2,864,000 18,900 48,600 491,000 62,500 20,000 1,202,950 Fixed Assets Interest Expenses Shares outstanding (par value = $46.00) 176,000 100,000 8.50 100,000 Market Price of stock 6 Accounts Receivable 351,200 632,160 Accounts payable Inventory Notes Payable Accumulated Depreciation 145,600 324,000 715,200 200,000 146,200 136,000 40% 1,287,360 720,000 263,160 284,960 40% Accruals Tax Rate

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter13: Financial Statement Analysis

Section: Chapter Questions

Problem 13.10E

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