Information from Halloran Company's Income Statement and Balance Sheets for the years 2013-2017 is presented. HALLORAN...

   

Transcribed Image Text:

Information from Halloran Company's Income Statement and Balance Sheets for the years 2013-2017 is presented. HALLORAN COMPANY Comparative Income Statements For Years Ended December 31, 2017-2013 ($ thousands) 2017 2016 2015 2014 2013 $ 1,271 $ 1,122 $ 1,028 $ 948 $ 935 $ Sales 890 Cost of goods sold 774 $ 677 $ 602 $ 564 Gross profit 336 $ 348 $ 351 $ 347 $ 326 248 $ 192 $ 128 $ 176 $ 176 $ 219 $ Operating expenses 110 Net income $4 89 $ 156 $ 216 HALLORAN COMPANY Comparative Ba lance Sheets December 31, 2017-2013 ($ thousands) 2017 2016 2015 2014 2013 Assets Cash $ 58 $ $ 63 $ 350 $ 270 $ 903 $ 774 $ 11 $ 59 $ 62 $ 66 Accounts receivable, net 368 $ 386 $ 239 Merchandise inventory $ 1,379 $ 1,023 $ 702 Other current assets 27 $ 24 $ 26 $ 21 Long-term investments $ 110 $ 110 $ 1,515 $ 1,511 $ 1,314 $ $ 3,346 $ 3,002 $ 2,639 $ 1,950 $ 1,871 Plant assets, net 708 $ 734 Total assets Liabilities and Equity 539 $ $ 915 $ $ Current liabilities 782 $ 461 $ 410 Long-term liabilities 971 $ 855 $ 834 $ 428 435 $ 750 $ 202 $ $ Common stock 750 750 $ 638 638 188 $ 128 $ 329 $ 188 $ Other paid-in capital Retained earnings Total liabilities and equity 128 $4 509 $ $ 3,346 $ 3,002 $ 2,639 $ 1,950 $ 1,871 428 $ 297 $ 261 Questions 1. Use these statements to calculate trend percentages for all components of both statements using 2013 as the base year. 2. Prepare a memo to the CEO of Halloran company summarizing your findings about the financial health of the company, using your calculations from above as evidence to support your conclusions. Information from Halloran Company's Income Statement and Balance Sheets for the years 2013-2017 is presented. HALLORAN COMPANY Comparative Income Statements For Years Ended December 31, 2017-2013 ($ thousands) 2017 2016 2015 2014 2013 $ 1,271 $ 1,122 $ 1,028 $ 948 $ 935 $ Sales 890 Cost of goods sold 774 $ 677 $ 602 $ 564 Gross profit 336 $ 348 $ 351 $ 347 $ 326 248 $ 192 $ 128 $ 176 $ 176 $ 219 $ Operating expenses 110 Net income $4 89 $ 156 $ 216 HALLORAN COMPANY Comparative Ba lance Sheets December 31, 2017-2013 ($ thousands) 2017 2016 2015 2014 2013 Assets Cash $ 58 $ $ 63 $ 350 $ 270 $ 903 $ 774 $ 11 $ 59 $ 62 $ 66 Accounts receivable, net 368 $ 386 $ 239 Merchandise inventory $ 1,379 $ 1,023 $ 702 Other current assets 27 $ 24 $ 26 $ 21 Long-term investments $ 110 $ 110 $ 1,515 $ 1,511 $ 1,314 $ $ 3,346 $ 3,002 $ 2,639 $ 1,950 $ 1,871 Plant assets, net 708 $ 734 Total assets Liabilities and Equity 539 $ $ 915 $ $ Current liabilities 782 $ 461 $ 410 Long-term liabilities 971 $ 855 $ 834 $ 428 435 $ 750 $ 202 $ $ Common stock 750 750 $ 638 638 188 $ 128 $ 329 $ 188 $ Other paid-in capital Retained earnings Total liabilities and equity 128 $4 509 $ $ 3,346 $ 3,002 $ 2,639 $ 1,950 $ 1,871 428 $ 297 $ 261 Questions 1. Use these statements to calculate trend percentages for all components of both statements using 2013 as the base year. 2. Prepare a memo to the CEO of Halloran company summarizing your findings about the financial health of the company, using your calculations from above as evidence to support your conclusions.

Answer rating: 100% (QA)

MEMORANDUM To The CEO From The CTO Subject Finding of Financial health of the corporate At last week... View the full answer