HALLORAN COMPANY Comparative Income Statements For Years Ended December 31, 2017-2013 (S thousands) 2013 2017 2016 2015 2014 $ 1,271 $ 1,122 $ 1,028 $ 774 $ 948 $ 890 602 $ 564 347 $ 326 128 $ 110 219 $ 216 Sales Cost of goods sold 935 $ 677 $ Gross profit Operating expenses 336 $ 351 $ 348 $ 192 $ 248 $ 176 Net income $ 89 $ 156 $ 176 $ HALLORAN COMPANY Comparative Balance Sheets December 31, 2017-2013 ($ thousands) 2017 2016 2015 2014 2013 Assets Cash 58 $ 368 $ 59 $ 386 $ 62 $ 350 $ 63 $ 270 $ 239 774 $ 702 66 Accounts receivable, net $ $ 1,379 $ 1,023 $ 903 $ Merchand ise inventory Other current assets $ 27 $ 24 $ 11 $ 26 $ 21 110 $ 708 $ 734 $ 3,346 $ 3,002 $ 2,639 $ 1,950 $ 1,871 Long-term investments $ 110 Plant assets, net $ 1,515 $ 1,511 $ 1,314 $ Total assets Liabilities and Equity Current liabilities $ 915 $ 782 $ 539 $ 461 $ 410 428 $ 435 $ 971 $ 750 $ 750 $ 855 $ 834 $ 750 $ Long-term liabilities Common stock 638 $ 638 Other paid-in capital 202 $ 188 $ 188 $ 329 $ 128 $ 128 Retained earnings 509 $ 428 $ 297 $ 261 Total liabilities and equity $ 3,346 $ 3,002 $ 2,639 $ 1,950 $ 1,871

HALLORAN COMPANY Comparative Income Statements For Years Ended December 31, 2017-2013 (S thousands) 2013 2017 2016 2015 2014 $ 1,271 $ 1,122 $ 1,028 $ 774 $ 948 $ 890 602 $ 564 347 $ 326 128 $ 110 219 $ 216 Sales Cost of goods sold 935 $ 677 $ Gross profit Operating expenses 336 $ 351 $ 348 $ 192 $ 248 $ 176 Net income $ 89 $ 156 $ 176 $ HALLORAN COMPANY Comparative Balance Sheets December 31, 2017-2013 ($ thousands) 2017 2016 2015 2014 2013 Assets Cash 58 $ 368 $ 59 $ 386 $ 62 $ 350 $ 63 $ 270 $ 239 774 $ 702 66 Accounts receivable, net $ $ 1,379 $ 1,023 $ 903 $ Merchand ise inventory Other current assets $ 27 $ 24 $ 11 $ 26 $ 21 110 $ 708 $ 734 $ 3,346 $ 3,002 $ 2,639 $ 1,950 $ 1,871 Long-term investments $ 110 Plant assets, net $ 1,515 $ 1,511 $ 1,314 $ Total assets Liabilities and Equity Current liabilities $ 915 $ 782 $ 539 $ 461 $ 410 428 $ 435 $ 971 $ 750 $ 750 $ 855 $ 834 $ 750 $ Long-term liabilities Common stock 638 $ 638 Other paid-in capital 202 $ 188 $ 188 $ 329 $ 128 $ 128 Retained earnings 509 $ 428 $ 297 $ 261 Total liabilities and equity $ 3,346 $ 3,002 $ 2,639 $ 1,950 $ 1,871

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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