Answer Questions 1 and 2 from the second image, using the following: PROBLEM SET
ID: 2594380 • Letter: A
Question
Answer Questions 1 and 2 from the second image, using the following:
PROBLEM SET B Selected comparative financial statements of Tripoly Company follow. Problem 13-1EB Calculation and analysis of trend percents A1 P1 TRIPOLY COMPANY Comparative Income Statements For Years Ended December 31, 2017-2011 $ thousands Sales Cost of goods sold 2017 2016 2015 2014 2013 2012 201 $560 $610 $630 $680 $740 $770 $86 276 290 294 314 340 350 380 284 320 336 366 400 420 480 84 104 112 126 140 144 150 $200 $216 $224 $240 $260 $276 $330 Operating expensesExplanation / Answer
TRIPOLY COMPANY
Comapritive Income Statements
For the Years Ended December 31, 2017-2011
Particulars
2017
2016
2015
2014
2013
2012
2011
Sales
100%
100%
100%
100%
100%
100%
100%
Cost of Goods Sold
49.29%
47.54%
46.67%
46.18%
45.95%
45.45%
44.19%
Gross Profit
50.71%
52.46%
53.33%
53.82%
54.05%
54.55%
55.81%
Operating Expenses
15%
17.05%
17.78%
18.53%
18.92%
18.70%
17.44%
Net Income
35.71%
35.41%
35.55%
35.29%
35.13%
35.85%
38.37%
TRIPOLY COMPANY
Comparative Balance sheets
December 31, 2017-2011
2017
2016
2015
2014
2013
2012
2011
ASSETS
Cash
4.78%
4.94%
5.46%
5.76%
6.22%
6.30%
6.54%
Accounts receivable, net
14.13%
14.59%
14.71%
15.35%
15.56%
15.65%
15.38%
Merchandise inventory
18.04%
18.45%
18.70%
19.19%
19.30%
19.31%
20%
Other Current Assets
3.70%
3.65%
3.78%
4.05%
3.94%
4.06%
3.85%
Long-term Investments
3.91%
3.22%
2.73%
11.73%
11.41%
11.18%
10.58%
Plant Assets, net
55.44%
55.15%
54.62%
43.92%
43.57%
43.50%
43.65%
TOTAL ASSETS
100%
100%
100%
100%
100%
100%
100%
Liabilities and Equity
Current Liabilities
16.09%
16.74%
19.54%
20.26%
21.78%
26.42%
26.92%
Long-term Liabilities
10%
12.88%
14.92%
15.78%
20.12%
21.75%
25%
Common Stock
17.39%
17.17%
16.81%
17.06%
16.60%
16.26%
15.38%
Other Paid-in Capital
7.61%
7.51%
7.35%
7.46%
7.26%
7.11%
6.73%
Retained Earnings
48.91%
45.70%
41.38%
39.44%
34.24%
28.46%
25.97%
Total Liabilities and Equity
100%
100%
100%
100%
100%
100%
100%
Analysis:
As there is small percentage of change in net income from 2012 to 2017, there is setoff of increase between sales and cost.
All assets except plant is in decreasing trend when compared to previous years.
Liabilities are in decreasing trend which is good for company.
Equity component is in increasing trend.
Particulars
2017
2016
2015
2014
2013
2012
2011
Sales
100%
100%
100%
100%
100%
100%
100%
Cost of Goods Sold
49.29%
47.54%
46.67%
46.18%
45.95%
45.45%
44.19%
Gross Profit
50.71%
52.46%
53.33%
53.82%
54.05%
54.55%
55.81%
Operating Expenses
15%
17.05%
17.78%
18.53%
18.92%
18.70%
17.44%
Net Income
35.71%
35.41%
35.55%
35.29%
35.13%
35.85%
38.37%
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