Managerial Accounting Final 2017- Take Home Problems Name WESTBROOK COMPANY Conm
ID: 2593548 • Letter: M
Question
Managerial Accounting Final 2017- Take Home Problems Name WESTBROOK COMPANY Conmparative Income Statements For Years Ended December 31, 2017, 2016and 2015 2017 2016 487,179 373219 234008 259,000 163,760 93.240 34, 188 21.497 Prott 193,897 39.211 Selling 69,179 exp Total 113,025 Inc 80,872 4.864 37.555 Inc 15,042 11,247 7,624 Net 65,830 43,617 29,931 WESTBROOK COMPANY Comparative Balance Shoets December 31,2017,2016, and 2015 2017 2016 45,947 35,948 500 93,628 48,054 LT Inv Plant 4,220 88,009 Total 133,96 30,076 107,76 aad Equity Current 19,38 15,859 sa,0oo 5,556 33,353 19.558 liabilities 68.000 68,000 Ret Eam 37,898 4.195 Total liab and equity 133,956 130,076 107,76Explanation / Answer
WESTBROOK COMPANY
Common-Size Comapritive Income Statements
For the Years Ended December 31, 2017,2016 and 2015
Particulars
2017
2016
2015
Sales
100%
100%
100%
Cost of Goods Sold
60.20%
62.70%
64%
Gross Profit
39.80%
37.30%
36%
Selling Expenses
14.20%
13.80%
13.20%
Administrative Expenses
9%
8.80%
8.30%
Total Expenses
23.20%
22.60%
21.50%
Income before Taxes
16.60%
14.70%
14.50%
Income Taxes
3.09%
3.01%
2.94%
Net Income
13.51%
11.69%
11.56%
WESTBROOK COMPANY
Balance Sheet Data in Trend Percents
December 31, 2017,2016 and 2015
2017
2016
2015
ASSETS
Current Assets
34.30%
27.64%
44.59%
Long-term Investments
0%
0.38%
3.91%
Plant Assets, net
65.70%
71.98%
51.50%
TOTAL ASSETS
100%
100%
100%
Liabilities and Equity
Current Liabilities
14.60%
14.90%
17.50%
Common Stock
50.76%
52.28%
46.40%
Other Paid-in Capital
6.35%
6.53%
5.16%
Retained Earnings
28.29%
26.29%
30.94%
Total Liabilities and Equity
100%
100%
100%
Calculation of Current Ratio:
Current Ratio = Current Assets: Current Liabilities
2017 = 2.35:1
2016 = 1.85:1
2015 = 2.55:1
Particulars
2017
2016
2015
Sales
100%
100%
100%
Cost of Goods Sold
60.20%
62.70%
64%
Gross Profit
39.80%
37.30%
36%
Selling Expenses
14.20%
13.80%
13.20%
Administrative Expenses
9%
8.80%
8.30%
Total Expenses
23.20%
22.60%
21.50%
Income before Taxes
16.60%
14.70%
14.50%
Income Taxes
3.09%
3.01%
2.94%
Net Income
13.51%
11.69%
11.56%
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