Selected comparative financial statement information of Bluegrass Corporation follows.
BLUEGRASS CORPORATION
Comparative Income Statements
For Years Ended December 31, 2016, 2015, and 2014

BLUEGRASS CORPORATION
Comparative Balance Sheets
December 31, 2016, 2015, and 2014

Required
1. Compute each year's current ratio. (Round ratio amounts to one decimal.)
2. Express the income statement data in common-size percents. (Round percents to two decimals.)
3. Express the balance sheet data in trend percents with 2014 as the base year. (Round percents to two decimals.)
Analysis Component
4. Comment on any notable relations revealed by the ratios and percents computed.

Transcribed Image Text:

2016 2015 2014 Sales Cost of goods sold... Gross profit.. Selling expenses Administrative expenses Total expenses Income before taxes Income taxes Net income.. .$198,800 $166,000 $143,800 . 108,890 86,175 66,200 89,910 79,825 77,600 22,680 19,790 18,000 15,700 33,700 50,47045,425 43,900 5,300 .$44,420 39,515 38,600 676014.610 34,400 39.440 6.050 5.910 2016 2015 2014 Assets Current assets .. . .54,860 32,660 36,300 1,700 10,600 79,000 $167.670 $148,020 $125,900 Plant assets, net Total assets. . 112,810 113,660 Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity .. . .22,370 $19,180 $16,500 37,000 13,850 3,850 300 68490 6110 . $167,670 $148,020 $125,900 46,500 46,500 84.950