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Evaluating Financial Statements - Complete Questions 1-4 of Problem 17-1A Use the spreadsheet in Appendix F to complete Problem 17-1A. Be sure to use the tabs labeled P17-01A and Given P17-01A.

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Solution Summary

The solution explains how to calculate the current ratio, prepare common-size statement and calculate trend percentages for Bennington Company

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BENNINGTON COMPANY
Current Ratios

Assets Liabilities Ratio
December 31, 2006: $48,480 $20,200 2.4 «- Correct!

December 31, 2005: 37,924 19,960 1.9 «- Correct!

December 31, 2000: 50,648 19,480 2.6 «- Correct!

BENNINGTON COMPANY
Common-Size Comparative Income Statement
For Years Ended December 31, 2006, 2005, and 2004

2006 2005 2004
Sales 100.00% 100.00% 100.00%
Cost of goods sold 60.20% 62.50% 64.00%
Gross profit from sales 39.80% 37.50% 36.00%
Selling expenses 14.12% 13.80% 13.20%
Administrative ...

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