Selected comparative financial statements of Telecom Company follow: Required: 1. Express the income statement data in Trend percentage with 2015 as the base year 2. Express the balance sheet data in Common-Size percentage 3. Compute each year's Quick ratio, Debt ratio, Profit margin ratio, Return on Assets. ( 4. Analyse and comment on any significant relations revealed by the percents and ratios computed. Telecom Company Comparative Balance Sheets December 31, 2017, 2016 and 2015 2017 2016 2015 Assets Current Assets Long-Term Investments Plant Assets, Net Total Assets $33,660 2700 114,660 $151,020 $37,300 11,600 80,000 $128.900 $55,860 113.810 $169.670 Liabilities & Equity Current Liabilities Common stock Other contributed capital Retained earnings Total Liabilities and equity $ 23,370 47,500 14,850 83,950 $169,670 $ 20,180 47,500 14,850 68,490 $151,020 $ 17,500 38,000 12,300 61,100 $128,900 Telecom Company Comparative income statements For the year ended December 31, 2017, 2016 and 2015 2017 2016 2015 $167,000 87,175 79,825 20,790 15,610 36,400 43,425 4,910 $38,515 Sales Cost of goods sold Gross profit Selling Expenses Administrative expenses Total expenses Income before taxes Income taxes $199,800 109,890 89,910 23,680 17.760 41,440 48,470 5,050 $43,420 $144,800 67,200 77,600 19,000 16,700 35,700 41,900 4,300 $37,600 Net income
Selected comparative financial statements of Telecom Company follow: Required: 1. Express the income statement data in Trend percentage with 2015 as the base year 2. Express the balance sheet data in Common-Size percentage 3. Compute each year's Quick ratio, Debt ratio, Profit margin ratio, Return on Assets. ( 4. Analyse and comment on any significant relations revealed by the percents and ratios computed. Telecom Company Comparative Balance Sheets December 31, 2017, 2016 and 2015 2017 2016 2015 Assets Current Assets Long-Term Investments Plant Assets, Net Total Assets $33,660 2700 114,660 $151,020 $37,300 11,600 80,000 $128.900 $55,860 113.810 $169.670 Liabilities & Equity Current Liabilities Common stock Other contributed capital Retained earnings Total Liabilities and equity $ 23,370 47,500 14,850 83,950 $169,670 $ 20,180 47,500 14,850 68,490 $151,020 $ 17,500 38,000 12,300 61,100 $128,900 Telecom Company Comparative income statements For the year ended December 31, 2017, 2016 and 2015 2017 2016 2015 $167,000 87,175 79,825 20,790 15,610 36,400 43,425 4,910 $38,515 Sales Cost of goods sold Gross profit Selling Expenses Administrative expenses Total expenses Income before taxes Income taxes $199,800 109,890 89,910 23,680 17.760 41,440 48,470 5,050 $43,420 $144,800 67,200 77,600 19,000 16,700 35,700 41,900 4,300 $37,600 Net income
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Selected comparative financial statements of Telecom Company follow:
Required:
1. Express the income statement data in Trend percentage with 2015 as the base year
2. Express the balance sheet data in Common-Size percentage
3. Compute each year's Quick ratio, Debt ratio, Profit margin ratio, Return on Assets. (
4. Analyse and comment on any significant relations revealed by the percents and ratios
computed.
Telecom Company
Comparative Balance Sheets
December 31, 2017, 2016 and 2015
2017
2016
2015
Assets
Current Assets
Long-Term Investments
Plant Assets, Net
Total Assets
$33,660
2700
114,660
$151,020
$37,300
11,600
80,000
$128.900
$55,860
113.810
$169.670
Liabilities & Equity
Current Liabilities
Common stock
Other contributed capital
Retained earnings
Total Liabilities and equity
$ 23,370
47,500
14,850
83,950
$169,670
$ 20,180
47,500
14,850
68,490
$151,020
$ 17,500
38,000
12,300
61,100
$128,900
Telecom Company
Comparative income statements
For the year ended December 31, 2017, 2016 and 2015
2017
2016
2015
$167,000
87,175
79,825
20,790
15,610
36,400
43,425
4,910
$38,515
Sales
Cost of goods sold
Gross profit
Selling Expenses
Administrative expenses
Total expenses
Income before taxes
Income taxes
$199,800
109,890
89,910
23,680
17.760
41,440
48,470
5,050
$43,420
$144,800
67,200
77,600
19,000
16,700
35,700
41,900
4,300
$37,600
Net income
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