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Question

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1.) Comparative statements for Kool Corporation are shown below:

Calculate trend percentages for all income statement amounts shown and comment on the results. Use 2010 as the base year. Comment on the results.

2) Calculate the percent increases for each of the following selected balance sheet items.

3) The comparative balance sheet for Golden Co. is shown below. Express the balance sheet in common-size percents.

Kool Corporation Comparative Income Statements For the years ended December 31 2012 2011 2010 Sales $14,800 $13,229 $13,994 Cost of Goods sold 8225 8661 8375 Gross profit 6575 4568 5619 Operating expenses 3664 3576 3487 Operating income $2,911 $992 $2,132

Explanation / Answer

                            2012      2011     2010

sales                     106%      94.5%    100%
COGs                      98.2%     103%     100%
Gross profit              117%      81.3%    100%
operating expenses  105%      102%     100%
operating expenses   136%      46.5%    100%

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