Assignment Results ACG 3073: Copy of Managerial Accounting ACG 3073 Chapt 13-ACG 3073 Score: 1.26 out of 100 points (1.26%) [The fol/owing inrOm1!'tion applies to the questions displayed below.] Selected comparative financial statements of Bennington Company follow: BENNINGTON COMPANY Comparative Income Statements For Years Ended December 31,2012,2011, and 2010 2012 2011 $ 538,907 $ 412,847 324,422 260,919 Sales Cost of goods sold 2010 $ 286,500 183,360 =-,,".=.-=-= =.==-.=-~ Gross profit 214,485 151,928 103,140 Selling expenses 76,525 56,973 37,818 Administrative expenses 48,502 36,331 23,780 :'=--"'=--=""-""-"'.:":':"= Total expenses 125,027 93,304 61,598 c..-..,-=== Income before taxes 89,458 58,624 41,542 Income taxes 16,639 12,018 8,433 "'~-==-=--=- ,...~•..===-=-"" Net income $ 72,819 $ 46,606 $ 33,109~---==----=-: 5••--· --~ _E="=-.~~ BENNINGTON COMPANY Comparative Balance Sheets December 31, 2012, 2011, and 2010 2012 2011 Assets Cu rrent assets Long-term investments Plant assets, net 2010 Q $ 48,691 /p $ 38,095 0>$ 50,924 o 500 4,700 91,831 97,858 57,427' Total assets $ 140,522 $ 136,453 ~_c=T::-... ~ Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained eamings 20,516 72,000 9,000 39,006 20,331 72,000 9,000 35,122 $ 136,453Total liabilities and equity $ 140,522 http://e'Zio.mhecloud.mcgraw-hill.comlhm.tpx $ 113,051 ::3::::--:::::'::-':"::~_ 19,784 54,000 6,000 33,267 $ 113,051 Page 1 of 4 Nadine Gustave instructions I help 3/25/2013 Assignment Results Page 2 of4 1. award: o out of 33.00 points Required: 1. Compute each year's current ratio. (Round your answers to 1 decimal place.) Current ratio Current ratio Current ratio 538.907" to 412,847" to 286,500" to 48,691 " 38,095 " 50,924 " December 31 , 2012: December 31,2011: December 31, 2010: It}Sook Links (3) Worksheet Learning Objective: 13·P1 Explain and apply methods Learning Objective: 13·P3 Define and apply ratioof horizontal analysis. analysis. Learning Objeclive: 13·P2 Describe and apply methods of vertical analysis.Difficulty: Hard Required: 1. Compute each year's current ratio. (Round your answers to 1 decimal place.) December 31,2012: J December 31, 2011: December 31,2010: Current ratio Current ratio Current ratio 2.4±0.1 to 1.9±0.1 to 2.6± 0.1 to 1.0 1.0 1.0 Explanation: Current ratio December 31,2012: $48,6911 $20,516 December31,2011: $38,095/$20,331 December 31,2010: $50,9241 $19,784 2.4 to 1 1.9to 1 2.6 to 1 http://ezto.mhecloud.mcgraw-hill.comlhm.tpx 3/25/2013 Assignment Results Page 3 of 4 award: o out of 33.00 . points 2. Express the income statement data in common-size percents. (Round your answers to 2 decimal places. Omit the "%" sign in your response.) 2. Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income taxes Net income BENNINGTON COMPANY Common-Size Comparative Income Statements For Years ...