Selected comparative financial statements of Bennington Company follow. Required 1. Compute each years current ratio. 2. Express

Selected comparative financial statements of Bennington Company follow.

Required
1. Compute each year’s current ratio.
2. Express the income statement data in common-size percents.
3. Express the balance sheet data in trend percents with 2010 as the base year.
Analysis Component
4. Comment on any significant relations revealed by the ratios and percentscomputed.

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BENNINGTON COMPANY Comparative Income Statements For Years Ended December 31,2012,2011, and 2010 2011 2010 Sales Gross profit. Selling expenses Administrative ...S444,000 $340,000 $236,000 Cost of goods sold ..267,288 212,500 151,040 176712 27,500 84,960 62694 46.920 31.152 e expenses40,137 29,9219.470 76,840 50,622 73,881 50,660 34,338 Total expenses Income before taxes Income taxes. Net income 102831 13764 0.3706.962 60,117 $ 40,290 27,376 BENNINGTON COMPANY Comparative Balance Sheets December 31,2012, 2011, and 2010 2012 2011 2010 Assets 48,480 $37,924 50648 3,720 90,000 96,000 57.000 $138.480 $134,424 $111,368 Current assets.. 500 Plant assets, net. Total assets .. Liabilities and Equity Current liabilities .. Common stock.. Other paid-in capital Retained earnings Total liabilities and equity138.480 134424 .368 . 20.200 19,960 $19,480 72,000 72000 54,000 9.000 9 000 9,000 6,000 37,280 33,46431.888