Pool Corporation, Incorporated, is the world's largest wholesale distributor of swimming pool supplies and equipment. It is a publicly traded corporation that trades on the NASDAQ exchange under the symbol POOL It sells these products to swimming pool repair and service businesses like Penny's Pool Service & Supply, Incorporated, swimming pool builders; and retail swimming pool stores. The majority of these customers are small, family-owned businesses like Penny's. Its trial balance and additional information adapted from a recent year ended December 31 are presented below. All numbers are in thousands Cash and cash equivalents Receivables, net Product inventories, net Prepaid expenses and other current assets POOL CORPORATION, INCORPORATED Trial Balance At December 31, Current Year Property and equipment, net Intangible assets Operating lease assets Other noncurrent assets, net Accounts payable Accrued expenses and other current liabilities Current portion of long-term debt Operating lease liability, current Long-tere debt Operating lease liability, noncurrent Other long-term liabilities Common stock Additional paid-in capital Additional paid-in capital Retained (deficit) earnings Net sales Cost of sales Selling and administrative expenses Interest expense Provision for income taxes Req 1A Debit $28,583 226,539 702,274 16,172 112,246 199,634 Req 18 176,689 21,129 THE 4T Req 2 336,674 2,274,592 583,679 Complete this question by entering your answers in the tabs below. Credit $261,963 60,813 11,745 56,325 Required: 1-0. Prepare a classified consolidated statement of income (with earnings per share) for the current year. Number of shares outstanding used in computation of earnings per share was 39,833 499,662 122,010 60,568 40 485,239 1-b. Prepare a consolidated balance sheet for the current year. Hint: Operating lease assets are a noncurrent asset 2. Compute gross profit percentage and return on assets. Total assets at the beginning of the year was $1,240,871 40 485,239 3,199,517 23,510 56,161 $4,757,882 $4,757,882 Prepare a classified consolidated statement of income (with earnings per share) for the current year. Number of shares outstanding used in computation of earnings per share was 39,833. Note: Enter your answers in thousands (i.e., 1,000,000 should be entered as 1,000). Round "Basic earnings per share" to 2 decimal places.
Pool Corporation, Incorporated, is the world's largest wholesale distributor of swimming pool supplies and equipment. It is a publicly traded corporation that trades on the NASDAQ exchange under the symbol POOL It sells these products to swimming pool repair and service businesses like Penny's Pool Service & Supply, Incorporated, swimming pool builders; and retail swimming pool stores. The majority of these customers are small, family-owned businesses like Penny's. Its trial balance and additional information adapted from a recent year ended December 31 are presented below. All numbers are in thousands Cash and cash equivalents Receivables, net Product inventories, net Prepaid expenses and other current assets POOL CORPORATION, INCORPORATED Trial Balance At December 31, Current Year Property and equipment, net Intangible assets Operating lease assets Other noncurrent assets, net Accounts payable Accrued expenses and other current liabilities Current portion of long-term debt Operating lease liability, current Long-tere debt Operating lease liability, noncurrent Other long-term liabilities Common stock Additional paid-in capital Additional paid-in capital Retained (deficit) earnings Net sales Cost of sales Selling and administrative expenses Interest expense Provision for income taxes Req 1A Debit $28,583 226,539 702,274 16,172 112,246 199,634 Req 18 176,689 21,129 THE 4T Req 2 336,674 2,274,592 583,679 Complete this question by entering your answers in the tabs below. Credit $261,963 60,813 11,745 56,325 Required: 1-0. Prepare a classified consolidated statement of income (with earnings per share) for the current year. Number of shares outstanding used in computation of earnings per share was 39,833 499,662 122,010 60,568 40 485,239 1-b. Prepare a consolidated balance sheet for the current year. Hint: Operating lease assets are a noncurrent asset 2. Compute gross profit percentage and return on assets. Total assets at the beginning of the year was $1,240,871 40 485,239 3,199,517 23,510 56,161 $4,757,882 $4,757,882 Prepare a classified consolidated statement of income (with earnings per share) for the current year. Number of shares outstanding used in computation of earnings per share was 39,833. Note: Enter your answers in thousands (i.e., 1,000,000 should be entered as 1,000). Round "Basic earnings per share" to 2 decimal places.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Please do not give solution in image format thanku
![Prepare a consolidated balance sheet for the current year. Hint: Operating lease assets are a noncurrent asset.
Note: Amounts to be deducted should be indicated by a minus sign. Enter your answers in thousands (i.e., 1,000,000 should
be entered as 1,000).
Current assets
Total current assets
Noncurrent assets.
Total assets
Total assets
POOL CORPORATION, INCORPORATED
Consolidated Balance Sheet
Current liabilities:
Total current liabilities
Noncurrent liabilities:
Total liabilities
Stockholders' equity:
Req 1A
(in Thousands)
Assets
Total stockholders' equity
Total liabilities and stockholders' equity
Numerator
Denominator
Numerator
Denominator
Req 18
Liabilities and Stockholders' Equity
Req 2
$
Return on Assets (ROA)
<Req 18
$
$
$
$
$
Compute gross profit percentage and return on assets. Total assets at the beginning of the year was $1,240,871.
Note: Enter your answers in thousands (i.e., 1,000,000 should be entered as 1,000). Round your answers to 1 decimal place.
Gross Profit Percentage
0
0
0
0](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb476d682-0c1b-4d81-b957-84480e4ac6fd%2Ffe0abcc9-b099-4fa3-afef-212977523ba2%2Fuh6g19k_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Prepare a consolidated balance sheet for the current year. Hint: Operating lease assets are a noncurrent asset.
Note: Amounts to be deducted should be indicated by a minus sign. Enter your answers in thousands (i.e., 1,000,000 should
be entered as 1,000).
Current assets
Total current assets
Noncurrent assets.
Total assets
Total assets
POOL CORPORATION, INCORPORATED
Consolidated Balance Sheet
Current liabilities:
Total current liabilities
Noncurrent liabilities:
Total liabilities
Stockholders' equity:
Req 1A
(in Thousands)
Assets
Total stockholders' equity
Total liabilities and stockholders' equity
Numerator
Denominator
Numerator
Denominator
Req 18
Liabilities and Stockholders' Equity
Req 2
$
Return on Assets (ROA)
<Req 18
$
$
$
$
$
Compute gross profit percentage and return on assets. Total assets at the beginning of the year was $1,240,871.
Note: Enter your answers in thousands (i.e., 1,000,000 should be entered as 1,000). Round your answers to 1 decimal place.
Gross Profit Percentage
0
0
0
0
![Pool Corporation, Incorporated, is the world's largest wholesale distributor of swimming pool supplies and equipment. It is a publicly
traded corporation that trades on the NASDAQ exchange under the symbol POOL.
It sells these products to swimming pool repair and service businesses like Penny's Pool Service & Supply, Incorporated, swimming
pool builders; and retail swimming pool stores. The majority of these customers are small, family-owned businesses like Penny's. Its
trial balance and additional information adapted from a recent year ended December 31 are presented below. All numbers are in
thousands.
Cash and cash equivalents
Receivables, net
Product inventories, net
Prepaid expenses and other current assets
Property and equipment, net
Intangible assets
Operating lease assets.
Other noncurrent assets, net
Accounts payable
Accrued expenses and other current liabilities
Current portion of long-term debt
Operating lease liability, current
Long-term debt
POOL CORPORATION, INCORPORATED
Trial Balance
At December 31, Current Year
Operating lease liability, noncurrent
Other long-term liabilities
Common stock
Additional paid-in capitel
Apand challen
Additional paid-in capital
Retained (deficit) earnings
Net sales
Cost of sales
Selling and administrative expenses
Interest expense
Provision for income taxes
Req 1A
Req 18
Complete this question by entering your answers in the tabs below.
Req 2
Net sales
Cost of sales
Debit
$28,583
226,539
702,274
16,172
112,246
199,634
176,689
21,129
326 474
Required:
1-0. Prepare a classified consolidated statement of income (with earnings per share) for the current year. Number of shares outstanding
used in computation of earnings per share was 39,833
1-b. Prepare a consolidated balance sheet for the current year. Hint: Operating lease assets are a noncurrent asset.
2. Compute gross profit percentage and return on assets. Total assets at the beginning of the year was $1,240,871.
Na
Credit
336,674
2,274,592
583,679
23,510
56,161
$4,757,882 $4,757,882
$261,963
60,513
11,745
56,325
499,662
122,010
60,568
40
485,239
Earnings per share:
Earnings per share
Weighted average shares outstanding
485,239
Prepare a classified consolidated statement of income (with earnings per share) for the current year. Number of shares
outstanding used in computation of earnings per share was 39,833.
Note: Enter your answers in thousands (i.e., 1,000,000 should be entered as 1,000). Round "Basic earnings per share" to 2
decimal places.
3,199,517
POOL CORPORATION, INCORPORATED
Consolidated Statement of Income
For the Year Ended December 31, Current Year
(In Thousands Except Per Share Amounts)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb476d682-0c1b-4d81-b957-84480e4ac6fd%2Ffe0abcc9-b099-4fa3-afef-212977523ba2%2Fuyxlzw_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Pool Corporation, Incorporated, is the world's largest wholesale distributor of swimming pool supplies and equipment. It is a publicly
traded corporation that trades on the NASDAQ exchange under the symbol POOL.
It sells these products to swimming pool repair and service businesses like Penny's Pool Service & Supply, Incorporated, swimming
pool builders; and retail swimming pool stores. The majority of these customers are small, family-owned businesses like Penny's. Its
trial balance and additional information adapted from a recent year ended December 31 are presented below. All numbers are in
thousands.
Cash and cash equivalents
Receivables, net
Product inventories, net
Prepaid expenses and other current assets
Property and equipment, net
Intangible assets
Operating lease assets.
Other noncurrent assets, net
Accounts payable
Accrued expenses and other current liabilities
Current portion of long-term debt
Operating lease liability, current
Long-term debt
POOL CORPORATION, INCORPORATED
Trial Balance
At December 31, Current Year
Operating lease liability, noncurrent
Other long-term liabilities
Common stock
Additional paid-in capitel
Apand challen
Additional paid-in capital
Retained (deficit) earnings
Net sales
Cost of sales
Selling and administrative expenses
Interest expense
Provision for income taxes
Req 1A
Req 18
Complete this question by entering your answers in the tabs below.
Req 2
Net sales
Cost of sales
Debit
$28,583
226,539
702,274
16,172
112,246
199,634
176,689
21,129
326 474
Required:
1-0. Prepare a classified consolidated statement of income (with earnings per share) for the current year. Number of shares outstanding
used in computation of earnings per share was 39,833
1-b. Prepare a consolidated balance sheet for the current year. Hint: Operating lease assets are a noncurrent asset.
2. Compute gross profit percentage and return on assets. Total assets at the beginning of the year was $1,240,871.
Na
Credit
336,674
2,274,592
583,679
23,510
56,161
$4,757,882 $4,757,882
$261,963
60,513
11,745
56,325
499,662
122,010
60,568
40
485,239
Earnings per share:
Earnings per share
Weighted average shares outstanding
485,239
Prepare a classified consolidated statement of income (with earnings per share) for the current year. Number of shares
outstanding used in computation of earnings per share was 39,833.
Note: Enter your answers in thousands (i.e., 1,000,000 should be entered as 1,000). Round "Basic earnings per share" to 2
decimal places.
3,199,517
POOL CORPORATION, INCORPORATED
Consolidated Statement of Income
For the Year Ended December 31, Current Year
(In Thousands Except Per Share Amounts)
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