{"id":61430,"date":"2022-05-15T23:50:21","date_gmt":"2022-05-15T23:50:21","guid":{"rendered":"https:\/\/assignmenttutors.net\/blog\/managerial-accounting-1b-ch13-accounting-homework-help\/"},"modified":"2022-05-15T23:50:21","modified_gmt":"2022-05-15T23:50:21","slug":"managerial-accounting-1b-ch13-accounting-homework-help","status":"publish","type":"post","link":"https:\/\/assignmenttutors.net\/blog\/managerial-accounting-1b-ch13-accounting-homework-help\/","title":{"rendered":"Managerial accounting 1b ch13 | Accounting homework help"},"content":{"rendered":"
\n

Managerial Accounting 1B<\/span><\/strong><\/span><\/p>\n

Financial and Managerial Accounting<\/span><\/strong><\/span><\/p>\n

Chapter 13<\/span><\/p>\n

1.<\/span><\/p>\n

\u00a0<\/span><\/p>\n

Exercise 13-3 Computation and analysis of trend percents L.O. P1<\/span><\/em><\/p>\n\n\n\n\n\n\n\n
<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

2013<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

2012<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

2011<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

2010<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

2009<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0\u00a0Sales<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$ 283,880\u00a0\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$ 271,800 \u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$ 253,680 \u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$ 235,560 \u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$ 151,000 \u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0\u00a0Cost of goods sold<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

129,200 \u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

123,080 \u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

116,280 \u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

107,440 \u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

68,000 \u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0\u00a0Accounts receivable<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

19,100 \u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

18,300 \u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

17,400 \u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

16,200 \u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

10,000 \u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span> <\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0\u00a0<\/span><\/p>\n\n\n\n
<\/span><\/p>\n

Compute trend percents for the above accounts, using 2009 as the base year.\u00a0(Omit the “%” sign in your response.)<\/span><\/strong><\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0\u00a0<\/span><\/p>\n

2.<\/span><\/p>\n

\u00a0<\/span><\/p>\n

Exercise 13-7 Common-size percents L.O. P2<\/span><\/em><\/p>\n\n\n\n
<\/span><\/p>\n

Sanderson Company\u2019s year-end balance sheets follow.<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0\u00a0<\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

At December 31<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

2012<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

2011<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

2010<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

Assets<\/span><\/strong><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

Cash<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

30,800<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

35,625<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

36,800 \u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

Accounts receivable, net<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

88,500<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

62,500<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

49,200 \u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

Merchandise inventory<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

111,500<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

82,500<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

53,000 \u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

Prepaid expenses<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

9,700<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

9,375<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

4,000 \u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

Plant assets, net<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

277,500<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

255,000<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

229,500 \u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span><\/td>\n <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span><\/td>\n <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span><\/td>\n <\/span> <\/span><\/td>\n<\/tr>\n
<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

Total assets<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

518,000<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

445,000<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

372,500 \u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span> <\/span><\/td>\n <\/span> <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span> <\/span><\/td>\n <\/span> <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span> <\/span><\/td>\n <\/span> <\/span> <\/span><\/td>\n<\/tr>\n
<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

Liabilities and Equity<\/span><\/strong><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

Accounts payable<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

128,900<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

75,250<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

49,250 \u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

Long-term notes payable secured by
\u00a0\u00a0mortgages on plant assets<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

97,500<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

102,500<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

82,500 \u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

Common stock, $10 par value<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

162,500<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

162,500<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

162,500 \u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

Retained earnings<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

129,100<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

104,750<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

78,250 \u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span><\/td>\n <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span><\/td>\n <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span><\/td>\n <\/span> <\/span><\/td>\n<\/tr>\n
<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

Total liabilities and equity<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

518,000<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

445,000<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

372,500 \u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span> <\/span><\/td>\n <\/span> <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span> <\/span><\/td>\n <\/span> <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span> <\/span><\/td>\n <\/span> <\/span> <\/span><\/td>\n<\/tr>\n
<\/span> <\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0\u00a0<\/span><\/p>\n\n\n\n
<\/span><\/p>\n

Express the balance sheets in common-size percents.\u00a0(Do not round intermediate calculations and round your final\u00a0answers to 1 decimal place. Omit the “%” sign in your response.)<\/span><\/strong><\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

Exercise 13-9 Liquidity analysis and interpretation L.O. P3<\/span><\/em><\/p>\n

[The following information applies to the questions displayed below.]<\/span><\/em><\/p>\n\n\n\n
<\/span><\/p>\n

Sanderson Company\u2019s year-end balance sheets follow.<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0\u00a0<\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

At December 31<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

2012<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

2011<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

2010<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

Assets<\/span><\/strong><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

Cash<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

30,800<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

35,625<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

36,800 \u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

Accounts receivable, net<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

88,500<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

62,500<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

49,200 \u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

Merchandise inventory<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

111,500<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

82,500<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

53,000 \u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

Prepaid expenses<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

9,700<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

9,375<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

4,000 \u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

Plant assets, net<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

277,500<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

255,000<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

229,500 \u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span><\/td>\n <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span><\/td>\n <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span><\/td>\n <\/span> <\/span><\/td>\n<\/tr>\n
<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

Total assets<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

518,000<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

445,000<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

372,500 \u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span> <\/span><\/td>\n <\/span> <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span> <\/span><\/td>\n <\/span> <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span> <\/span><\/td>\n <\/span> <\/span> <\/span><\/td>\n<\/tr>\n
<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

Liabilities and Equity<\/span><\/strong><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

Accounts payable<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

128,900<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

75,250<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

49,250 \u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

Long-term notes payable secured by
\u00a0\u00a0mortgages on plant assets<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

97,500<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

102,500<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

82,500 \u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

Common stock, $10 par value<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

162,500<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

162,500<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

162,500 \u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

Retained earnings<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

129,100<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

104,750<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

78,250 \u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span><\/td>\n <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span><\/td>\n <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span><\/td>\n <\/span> <\/span><\/td>\n<\/tr>\n
<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

Total liabilities and equity<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

518,000<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

445,000<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

372,500 \u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span> <\/span><\/td>\n <\/span> <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span> <\/span><\/td>\n <\/span> <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span> <\/span><\/td>\n <\/span> <\/span> <\/span><\/td>\n<\/tr>\n
<\/span> <\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0\u00a0<\/span><\/p>\n\n\n\n
<\/span><\/p>\n

The company\u2019s income statements for the years ended December 31, 2012 and 2011, follow. Assume that all sales are on credit:<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0\u00a0<\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
<\/span><\/p>\n

\u00a0For Year Ended December 31<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

2012<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

2011<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0\u00a0Sales<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

672,500<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

530,000 \u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0\u00a0Cost of goods sold<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

410,225<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

\u00a0<\/td>\n\u00a0<\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

344,500<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

\u00a0<\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0\u00a0Other operating expenses<\/span><\/p>\n

<\/span><\/td>\n

\u00a0<\/td>\n <\/span><\/p>\n

208,550<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

\u00a0<\/td>\n\u00a0<\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

\u00a0<\/td>\n <\/span><\/p>\n

133,980<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

\u00a0<\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0\u00a0Interest expense<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

11,100<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

12,300<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0\u00a0Income taxes<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

8,525<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

7,845<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span><\/td>\n <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span><\/td>\n <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0\u00a0Total costs and expenses<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

638,400<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

498,625 \u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span><\/td>\n <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span><\/td>\n <\/span> <\/span><\/td>\n<\/tr>\n
<\/span><\/p>\n

\u00a0\u00a0Net income<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

34,100<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

31,375 \u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span> <\/span><\/td>\n <\/span> <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span> <\/span><\/td>\n <\/span> <\/span> <\/span><\/td>\n<\/tr>\n
<\/span><\/p>\n

\u00a0\u00a0Earnings per share<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

2.10<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

1.93 \u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span> <\/span><\/td>\n <\/span> <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span> <\/span><\/td>\n <\/span> <\/span> <\/span><\/td>\n<\/tr>\n
<\/span> <\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/span><\/span><\/p>\n\n\n\n
<\/span><\/p>\n

Section Break<\/span><\/strong><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

Exercise 13-9 Liquidity analysis and interpretation L.O. P3<\/span><\/em><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/span><\/span><\/p>\n

\u00a03.<\/span><\/p>\n

\u00a0<\/span><\/span><\/p>\n

\u00a0<\/span><\/p>\n

Exercise 13-9 Part 1<\/span><\/em><\/p>\n\n\n\n
<\/span><\/p>\n

(1)<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0Compute days’ sales uncollected.\u00a0(Use 365 days a year. Do not round intermediate calculations and roundyour final answers to the nearest whole number.)<\/span><\/strong><\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0\u00a0<\/span><\/p>\n

\u00a04.<\/span><\/p>\n

\u00a0<\/span><\/span><\/p>\n

\u00a0<\/span><\/p>\n

Exercise 13-9 Part 2<\/span><\/em><\/p>\n\n\n\n
<\/span><\/p>\n

(2)<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0Compute accounts receivable turnover.\u00a0(Round your answers to\u00a01 decimal place.)<\/span><\/strong><\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0\u00a0<\/span><\/p>\n\n\n\n\n\n\n
<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0\u00a02012<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0\u00a02011<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span> <\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n


\u00a0<\/span><\/p>\n

\u00a05.<\/span><\/p>\n

\u00a0<\/span><\/span><\/p>\n

\u00a0<\/span><\/p>\n

Exercise 13-9 Part 3<\/span><\/em><\/p>\n\n\n\n
<\/span><\/p>\n

(3)<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0Compute inventory turnover.\u00a0(Round your answers to 1 decimal place.)<\/span><\/strong><\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

\u00a06.<\/span><\/p>\n

\u00a0<\/span><\/span><\/p>\n

\u00a0<\/span><\/p>\n

Exercise 13-9 Part 4<\/span><\/em><\/p>\n\n\n\n
<\/span><\/p>\n

(4)<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0Compute days’ sales in inventory.\u00a0(Use 365 days a\u00a0year. Do not round intermediate calculations and round your final answers to the nearest whole number.)<\/span><\/strong><\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0\u00a0<\/span><\/p>\n\n\n\n\n\n\n
<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0\u00a02012<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0\u00a02011<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span> <\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/span><\/p>\n

Problem 13-1A Ratios, common-size statements, and trend percents L.O. P1, P2, P3<\/span><\/em><\/p>\n

[The following information applies to the questions displayed below.]<\/span><\/em><\/p>\n\n\n\n\n
<\/span><\/p>\n

Selected comparative financial statements of Bennington Company follow:<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0\u00a0<\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
<\/span><\/p>\n

BENNINGTON COMPANY<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

Comparative Income Statements<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

For Years Ended December 31, 2012, 2011, and 2010<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

2012<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

2011<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

2010<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0\u00a0Sales<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

444,000<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

340,000<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

236,000<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0\u00a0Cost of goods sold<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

267,288<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

212,500<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

151,040<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span><\/td>\n <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span><\/td>\n <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span><\/td>\n <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0\u00a0Gross profit<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

176,712<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

127,500<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

84,960<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0\u00a0Selling expenses<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

62,694<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

46,920<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

31,152<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0\u00a0Administrative expenses<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

40,137<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

29,920<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

19,470<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span><\/td>\n <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span><\/td>\n <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span><\/td>\n <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0\u00a0Total expenses<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

102,831<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

76,840<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

50,622<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span><\/td>\n <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span><\/td>\n <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span><\/td>\n <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0\u00a0Income before taxes<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

73,881<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

50,660<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

34,338<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0\u00a0Income taxes<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

13,764<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

10,370<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

6,962<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span><\/td>\n <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span><\/td>\n <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span><\/td>\n <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0\u00a0Net income<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

60,117<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

40,290<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

27,376<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span> <\/span><\/td>\n <\/span> <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span> <\/span><\/td>\n <\/span> <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span> <\/span><\/td>\n <\/span> <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span> <\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0\u00a0<\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
<\/span><\/p>\n

BENNINGTON COMPANY<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

Comparative Balance Sheets<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

December 31, 2012, 2011, and 2010<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

2012<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

2011<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

2010<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0\u00a0Assets<\/span><\/strong><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0\u00a0Current assets<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

48,480<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

37,924<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

50,648<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0\u00a0Long-term investments<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

500<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

3,720<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0\u00a0Plant assets, net<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

90,000<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

96,000<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

57,000<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span><\/td>\n <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span><\/td>\n <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span><\/td>\n <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0\u00a0Total assets<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

138,480<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

134,424<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

111,368<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span> <\/span><\/td>\n <\/span> <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span> <\/span><\/td>\n <\/span> <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span> <\/span><\/td>\n <\/span> <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0\u00a0Liabilities and Equity<\/span><\/strong><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0\u00a0Current liabilities<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

20,200<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

19,960<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

19,480<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0\u00a0Common stock<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

72,000<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

72,000<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

54,000<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0\u00a0Other paid-in capital<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

9,000<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

9,000<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

6,000<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0\u00a0Retained earnings<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

37,280<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

33,464<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

31,888<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span><\/td>\n <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span><\/td>\n <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span><\/td>\n <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0\u00a0Total liabilities and equity<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

138,480<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

134,424<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

$<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

111,368<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span> <\/span><\/td>\n <\/span> <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span> <\/span><\/td>\n <\/span> <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span> <\/span> <\/span><\/td>\n <\/span> <\/span> <\/span><\/td>\n <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span> <\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/span><\/span><\/p>\n

\u00a0<\/span><\/span><\/p>\n

\u00a07.<\/span><\/p>\n

\u00a0<\/span><\/p>\n

Problem 13-1A Part 1<\/span><\/em><\/p>\n\n\n\n\n
<\/span><\/p>\n

Required:<\/span><\/strong><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

1.<\/span><\/strong><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

Compute each year’s current ratio.\u00a0(Round your answers to 1 decimal place.)<\/span><\/strong><\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0\u00a0<\/span><\/p>\n\n\n\n\n\n\n\n
<\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

Current ratio<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

December 31, 2012:<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

Current ratio<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

December 31, 2011:<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span><\/p>\n

Current ratio<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

December 31, 2010:<\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/span><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

\u00a0<\/span><\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n

<\/span> <\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/p>\n

\u00a08.<\/span><\/p>\n

\u00a0<\/span><\/p>\n

Problem 13-1A Part 2<\/span><\/em><\/p>\n\n\n\n
<\/span><\/p>\n

2.<\/span><\/strong><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

Express the income statement data in common-size percents.\u00a0(Round your answers to 2 decimal places. Omit the “%” sign in your response.)<\/span><\/strong><\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0\u00a0\u00a0\u00a0<\/span><\/p>\n

9.<\/span><\/p>\n

\u00a0<\/span><\/span><\/p>\n

\u00a0<\/span><\/p>\n

Problem 13-1A Part 3<\/span><\/em><\/p>\n\n\n\n
<\/span><\/p>\n

3.<\/span><\/strong><\/p>\n

<\/span><\/td>\n

 <\/span><\/p>\n

Express the balance sheet data in trend percents with 2010 as the base year.\u00a0(Round your answers to 2 decimal places. Leave no cells blank – be certain to enter “0” wherever required. Omit the “%” sign in your response.)<\/span><\/strong><\/span><\/p>\n

<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Managerial Accounting 1B Financial and Managerial Accounting Chapter 13 1. \u00a0 Exercise 13-3 Computation and analysis of trend percents L.O. P1 \u00a0 2013 2012 2011 2010 2009 \u00a0\u00a0Sales $ 283,880\u00a0\u00a0 $ 271,800 \u00a0 $ 253,680 \u00a0 $ 235,560 \u00a0 $ 151,000 \u00a0 \u00a0\u00a0Cost of goods sold 129,200 \u00a0 123,080 \u00a0 116,280 \u00a0 107,440 \u00a0 68,000 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"class_list":["post-61430","post","type-post","status-publish","format-standard","hentry","category-education"],"_links":{"self":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/61430","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/comments?post=61430"}],"version-history":[{"count":0,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/61430\/revisions"}],"wp:attachment":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/media?parent=61430"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/categories?post=61430"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/tags?post=61430"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}