P1 P2 P3 U BLUEGRASS CORPORATION Comparative Year-End Balance Sheets At December 31 2019 2018 2017 BLUEGRASS CORPORATION Comparative Income Statements Assets For Years Ended December 31 2019 2018 2017 Current assets.. $ 54,860 $ 32,660 $ 36,300 Sales .... Long-term investments.. Plant assets, net.. 1,700 10,600 $198,800 $166,000 $143,800 112,810 79,000 66.200 113,660 $148,020 $125,900 Cost of goods sold 108,890 86,175 Total assets.. $167,670 Gross profit... 89,910 79,825 77,600 Llabilitles and Equlty Selling expenses.. 22,680 19,790 18,000 Current liabilities. $ 22,370 $ 19,180 $ 16,500 Administrative expenses 16,760 14,610 15,700 Common stock ... 46,500 46,500 37,000 Total expenses . 39,440 34,400 33,700 Other paid-in capital. 13,850 13,850 11,300 Income before taxes.. 50,470 45,425 43,900 Retained earnings... 84,950 68,490 61,100 Income tax expense 6,050 5,910 5,300 $ 38,600 Total liabilities and equity... $167,670 $148,020 $125,900 Net income $ 44,420 $ 39,515
P1 P2 P3 U BLUEGRASS CORPORATION Comparative Year-End Balance Sheets At December 31 2019 2018 2017 BLUEGRASS CORPORATION Comparative Income Statements Assets For Years Ended December 31 2019 2018 2017 Current assets.. $ 54,860 $ 32,660 $ 36,300 Sales .... Long-term investments.. Plant assets, net.. 1,700 10,600 $198,800 $166,000 $143,800 112,810 79,000 66.200 113,660 $148,020 $125,900 Cost of goods sold 108,890 86,175 Total assets.. $167,670 Gross profit... 89,910 79,825 77,600 Llabilitles and Equlty Selling expenses.. 22,680 19,790 18,000 Current liabilities. $ 22,370 $ 19,180 $ 16,500 Administrative expenses 16,760 14,610 15,700 Common stock ... 46,500 46,500 37,000 Total expenses . 39,440 34,400 33,700 Other paid-in capital. 13,850 13,850 11,300 Income before taxes.. 50,470 45,425 43,900 Retained earnings... 84,950 68,490 61,100 Income tax expense 6,050 5,910 5,300 $ 38,600 Total liabilities and equity... $167,670 $148,020 $125,900 Net income $ 44,420 $ 39,515
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter15: Capital Investment Analysis
Section: Chapter Questions
Problem 15.5.1MBA
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Required
1. Compute each year’s
2. Express the income statement data in common-size percents. Round percents to two decimals.
3. Express the
decimals.
Analysis Component
4. Comment on any significant relations revealed by the ratios and percents computed.
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