Oo.45.Subject:- Account Pool Corporation, Inc., is the world's largest wholesale distributor of swimming pool supplies and equipment. It is a publicly tradedcorporation that trades on the NASDAQ exchange under the symbol POOL. It sells these products to swimming pool repair and servicebusinesses like Penny's Pool Service & Supply, Inc.; swimming pool builders; and retail swimming pool stores. The majority of thesecustomers are small, family-owned businesses like Penny's. Its trial balance and additional information adapted from a recent yearended December 31 are presented below. All numbers are in thousands.Cash and cash equivalentsReceivables, netProduct inventories, netPrepaid expenses and other current assets.Property and equipment, netIntangible assetsOther noncurrent assets, netAccounts payableNAccrued expenses and other current liabilitiesCurrent portion of long-term debtLong-tern debtOther long-term liabilitiesCommon stockAdditional paid-in capitalRetained earningsNet salesCost of salesSelling and administrative expensesInterest expenseProvision for income taxes$18,627111,455387,52423,30541,832189,44130,5661,264,728406,8537,81545,499$2,527,645$177,73753,57828247,90040,83959173,48034,7061,799,318$2,527,645Required:1-a. Prepare a classified consolidated statement of income (with earnings per share) for the current year. Number of shares outstandingused in computation of earnings per share was 48,218.1-b. Prepare a consolidated balance sheet for the current year.2. Compute gross profit percentage and return on assets. Total assets at the beginning of the year was $731,545.

Financial Statements: At the conclusion of a fiscal year, financial statements give a true picture…

Pool Corporation, Inc., is the world's largest wholesale distributor of swimming pool supplies and equipment. It is a publicly traded corporation that trades on the NASDAQ exchange under the symbol POOL. It sells these products to swimming pool repair and servic businesses like Penny's Pool Service & Supply, Inc.; swimming pool builders; and retail swimming pool stores. The majority of these customers are small, family-owned businesses like Penny's. Its trial balance and additional information adapted from a recent year ended December 31 are presented below. All numbers are in thousands. Cash and cash equivalents Receivables, net Product inventories, net Prepaid expenses and other current assets Property and equipment, net Intangible assets Other noncurrent assets, net Accounts payable Accrued expenses and other curren Hobilini $ 18,627 111,455 387,524 23,305 41,832 189,441 30,566 $ 177,737 61 530

Pool Corporation, Inc., is the world's largest wholesale distributor of swimming pool supplies and equipment. It is a publicly traded corporation that trades on the NASDAQ exchange under the symbol POOL. It sells these products to swimming pool repair and servic businesses like Penny's Pool Service & Supply, Inc.; swimming pool builders; and retail swimming pool stores. The majority of these customers are small, family-owned businesses like Penny's. Its trial balance and additional information adapted from a recent year ended December 31 are presented below. All numbers are in thousands. Cash and cash equivalents Receivables, net Product inventories, net Prepaid expenses and other current assets Property and equipment, net Intangible assets Other noncurrent assets, net Accounts payable Accrued expenses and other curren Hobilini $ 18,627 111,455 387,524 23,305 41,832 189,441 30,566 $ 177,737 61 530

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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