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ACC Exercise 17-3- GERALDO CORPORATION

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Question;Exercise 17-3 Computation and analysis of trend percents L.O. P12013 2012 2011 2010 2009Sales $ 614,600 $ 399,091 $ 320,555 $ 237,448 $ 177,200Cost of goods sold 297,608 193,314 157,116 115,725 85,056Accounts receivable 29,808 23,307 21,958 13,819 12,156Compute trend percents for the above accounts, using 2009 as the base year. (Round your answers to the nearest whole percent. Omit the "%" sign in your response.)2013 2012 2011 2010 2009Sales % % % % 100%Cost of goods sold % % % % 100%Accounts receivable % % % % 100%Exercise 17-5 Common-size percent computation and interpretation L.O. P2The following are the comparative income statements of Geraldo Corporation:GERALDO CORPORATIONComparative Income StatementsFor Years Ended December 31, 2011 and 20102011 2010Sales $ 721,000 $ 540,000Cost of goods sold 474,600 281,740Gross profit 246,400 258,260Operating expenses 151,300 102,790;Net income $ 95,100 $ 155,470Express the above comparative income statements in common-size percents. (Round your answers to 1 decimal place. Omit the "%" sign in your response.)2011 2010Sales % %Cost of goods soldGross profitOperating expensesNet income % %The company's situation in the most recent year has:ImprovedRemained unchangedWorsenedExercise 17-8 Liquidity analysis L.O. P3Sanderson Company?s year-end balance sheets follow.At December 31 2012 2011 2010AssetsCash $ 32,648 $ 38,548 $ 39,753Accounts receivable, net 94,624 69,483 53,004Merchandise inventory 118,972 88,251 56,443Prepaid expenses 10,726 10,018 4,462Plant assets, net 301,979 275,553 251,938Total assets $ 558,949 $ 481,853 $ 405,600Liabilities and EquityAccounts payable $ 137,787 $ 80,619 $ 53,004Long-term notes payable secured bymortgages on plant assets 101,930 110,826 88,741Common stock, $10 par value 162,500 162,500 162,500Retained earnings 156,732 127,908 101,355Total liabilities and equity $ 558,949 $ 481,853 $ 405,600(1)Compute the current ratio for the year ended 2012, 2011, and 2010. (Round your answers to 2 decimal places.)2012 to2011 to2010 to(2)Compute the acid-test ratio for the year ended 2012, 2011, and 2010. (Round your answers to 2 decimal places.)2012 to2011 to2010 to

 

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