Home / Questions / Data for the most recent four fiscal years of Burleigh Falls Corp. are given below: 2011
Data for the most recent four fiscal years of Burleigh Falls Corp. are given below:
2011201020092008
Net sales$83,000$75,000$67,000$60,000
Cost of goods sold34,00032,00030,00026,000
Gross margin$49,000$43,000$37,000$34,000
Operating expenses26,00022,00019,00014,000
Net income$23,000$21,000$18,000$20,000
Required:
a. Prepare an analysis showing the trend percentages for the four-year period using 2008 as the base year.
b. What do the trend percentages indicate regarding Burleigh Falls Corp.'s income statement data?
21) Following is a comparative balance sheet for Barking Shark International Corporation:
Barking Shark International Corporation
Balance Sheet
December 31, 2011 and 2010
20112010
Current assets
Cash$ 10,000$ 5,000
Short-term investments7,00010,000
Accounts receivable, net30,00023,000
Inventory37,00035,000
Prepaid expenses4,0003,000
Total current assets$ 88,000$ 76,000
Property, plant, and equipment, net33,30035,000
Other assets27,00022,500
Total assets$148,300$133,500
Current liabilities
Short-term borrowings$ 28,400$ 13,900
Accounts payable20,00022,500
Total current liabilities$48,400$36,400
Long-term debt37,50033,000
Total liabilities$85,900$69,400
Shareholders' equity
Common shares$20,000$20,000
Retained earnings42,40044,100
Total shareholders' equity$62,400$64,100
Total liabilities and shareholders'
equity$148,300$133,500
Required:
a. Calculate and show the percentages that would appear in a horizontal analysis for this balance sheet.
b. Indicate any positive or negative developments from one year to the next.
22) Prepare a horizontal analysis for 2011 using the information provided by Rat Rack Incorporated below. What do these numbers tell you about Rat Rack's 2011 year? Using 2009 as the base year for Rat Rack prepare the trend percentages for the three year period 2009-2010. What do these trend percentages indicate about Rat Rack?
201120102009
Net sales$98,000$88,000$89,000
Cost of goods sold44,00035,00038,000
Gross margin$54,000$53,000$51,000
Operating expenses32,00031,00030,000
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