Pool Corporation, Inc., is the world€™s largest wholesale distributor of swimming pool supplies and equipment. It is a publicly traded corporation that trades on the NASDAQ exchange under the symbol POOL. It sells these products to swimming pool repair and service businesses like Penny€™s Pool Service & Supply, Inc., swimming pool builders, and retail swimming pool stores. The majority of these customers are small, family-owned businesses like Penny€™s. Its trial balance and additional information adapted from a recent year ended December 31 are presented below. All numbers are in thousands.

Required:
1. Prepare a classified income statement (with earnings per share) and balance sheet for the current year. Number of shares outstanding used in computation of earnings per share was 48,158.
2. Compute gross profit percentage and return on assets. Total assets at the beginning of the year was$728,545.

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Cash and cash equivalents Receivables, net Product inventories, net Prepaid expenses and other current assets Property and equipment, net Intangible assets Other noncurrent assets, net Accounts payable Accrued expenses and other current liabilities Current portion of long-term debt 17,487 110,555 386,924 23,035 41,394 188,841 30,386 S 177,437 53,398 ng-term debt Other long-term liabilities Common stock Additional paid-in capital Retained earnings Net sales Cost of sales Selling and administrative expenses Interest expense Provision for income taxes 247,300 40,719 47 173,180 34,526 1,793,318 1,261,728 406,523 7,755 45,319 $2,519,947 $2,519,947