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Selected comparative financial statements of Bennington Company follow: BENNINGTON COMPANY Comparative Income Statements For Years Ended December 31, 2012, 2011, and 2010 2012 2011 2010 Sales $ 504,672 $ 386,620 $ 268,300 Cost of goods sold 303,813 242,797 171,712 Gross profit 200,859 143,823 96,588 Selling expenses 71,663 53,354 35,416 Administrative expenses 45,420 34,023 22,269 Total expenses 117,083 87,377 57,685 Income before taxes 83,776 56,446 38,903 Income taxes 15,582 11,571 7,897 Net income $ 68,194 $ 44,875 $ 31,006 BENNINGTON COMPANY Comparative Balance Sheets December 31, 2012, 2011, and 2010 2012 2011 2010 Assets Current assets $ 52,257 $ 40,885 $ 54,653 Long-term investments 0 600 3,490 Plant assets, net 100,095 106,455 64,425 Total assets $ 152,352 $ 147,940 $ 122,568 Liabilities and Equity Current liabilities $ 22,243 $ 22,043 $ 21,449 Common stock 67,000 67,000 49,000 Other paid-in capital 8,375 8,375 5,444 Retained earnings 54,734 50,522 46,675 Total liabilities and equity $ 152,352 $ 147,940 $ 122,568 references 1.value: 2.00 points Problem 17-1A Part 1 Required: 1. Compute each year’s current ratio. (Round your answers to 1 decimal place.) Current ratio December 31, 2012: to Current ratio December 31, 2011: to Current ratio December 31, 2010: to eBook Links (3) references 2.value: 2.00 points Problem 17-1A Part 2 2. Express the income statement data in common-size percents. (Percents are rounded to two decimals and thus may not exactly sum to totals and subtotals. Round your answers to 2 decimal places. Omit the “%” sign in your response.) BENNINGTON COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2012, 2011, and 2010 2012 2011 2010 Sales % % % Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income taxes Net income % % % eBook Links (3)references 3.value: 2.00 points Problem 17-1A Part 3 3. Express the balance sheet data in trend percents with 2010 as the base year. (Round your answers to 2 decimal places. Leave no cells blank – be certain to enter “0” wherever required. Omit the “%” sign in your response.) BENNINGTON COMPANY Balance Sheet Data in Trend Percents December 31, 2012, 2011, and 2010 2012 2011 2010 Assets Current assets % % % Long-term investments Plant assets Total assets Liabilities and Equity Current liabilities % % % Common stock Other contributed capital Retained earnings Total liabilities and equity

Selected comparative financial statements of Bennington Company follow:
BENNINGTON COMPANY
Comparative Income Statements
For Years Ended December 31, 2012, 2011, and 2010
2012 2011 2010
Sales $ 504,672 $ 386,620 $ 268,300
Cost of goods sold 303,813 242,797 171,712
Gross profit 200,859 143,823 96,588
Selling expenses 71,663 53,354 35,416
Administrative expenses 45,420 34,023 22,269
Total expenses 117,083 87,377 57,685
Income before taxes 83,776 56,446 38,903
Income taxes 15,582 11,571 7,897
Net income $ 68,194 $ 44,875 $ 31,006

BENNINGTON COMPANY
Comparative Balance Sheets
December 31, 2012, 2011, and 2010
2012 2011 2010
Assets
Current assets $ 52,257 $ 40,885 $ 54,653
Long-term investments 0 600 3,490
Plant assets, net 100,095 106,455 64,425
Total assets $ 152,352 $ 147,940 $ 122,568

Liabilities and Equity
Current liabilities $ 22,243 $ 22,043 $ 21,449
Common stock 67,000 67,000 49,000
Other paid-in capital 8,375 8,375 5,444
Retained earnings 54,734 50,522 46,675
Total liabilities and equity $ 152,352 $ 147,940 $ 122,568
references 1.value: 2.00 points

Problem 17-1A Part 1
Required:
1. Compute each year’s current ratio. (Round your answers to 1 decimal place.)
Current ratio December 31, 2012: to
Current ratio December 31, 2011: to
Current ratio December 31, 2010: to
eBook Links (3) references

2.value: 2.00 points

Problem 17-1A Part 2
2.
Express the income statement data in common-size percents. (Percents are rounded to two decimals and thus may not exactly sum to totals and subtotals. Round your answers to 2 decimal places. Omit the “%” sign in your response.)

BENNINGTON COMPANY
Common-Size Comparative Income Statements
For Years Ended December 31, 2012, 2011, and 2010
2012 2011 2010
Sales % % %
Cost of goods sold
Gross profit
Selling expenses
Administrative expenses
Total expenses
Income before taxes
Income taxes
Net income % % %
eBook Links (3)references
3.value:
2.00 points

Problem 17-1A Part 3
3.
Express the balance sheet data in trend percents with 2010 as the base year. (Round your answers to 2 decimal places. Leave no cells blank – be certain to enter “0” wherever required. Omit the “%” sign in your response.)

BENNINGTON COMPANY
Balance Sheet Data in Trend Percents
December 31, 2012, 2011, and 2010
2012 2011 2010
Assets
Current assets % % %
Long-term investments
Plant assets

Total assets

Liabilities and Equity
Current liabilities % % %
Common stock
Other contributed capital
Retained earnings

Total liabilities and equity

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