FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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he condensed
Corporation are presented below.
SYMBIOSIS CORPORATION
Balance Sheets
December 31
2014 2013 2012
Cash $ 30,000 $ 24,000 $ 20,000
Accounts receivable (net) 110,000 48,000 48,000
Other current assets 80,000 78,000 62,000
Investments 90,000 70,000 50,000
Plant and equipment (net) 503,000 400,000 360,000
$813,000 $620,000 $540,000
Current liabilities $ 98,000 $ 75,000 $ 70,000
Long-term debt 130,000 75,000 65,000
Common stock, $10 par 400,000 340,000 300,000
Retained earnings 185,000 130,000 105,000
$813,000 $620,000 $540,000
SYMBIOSIS CORPORATION
Income Statements
For the Years Ended December 31
2014 2013
Sales revenue $800,000 $750,000
Less: Sales returns and allowances 40,000 50,000
Net sales 760,000 700,000
Cost of goods sold 420,000 406,000
Gross profit 340,000 294,000
Operating expenses (including income taxes) 230,000 209,000
Net income $110,000 $ 85,000
Additional information:
1. The market price of Symbiosis common stock was $5.00, $3.50, and $2.80 for
2012, 2013, and 2014, respectively.
2. You must compute dividends paid. All dividends were paid in cash.
Please give Horizontal and Vertical Analysis
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