The Mathematics of Money

Copyright © 2008, The McGraw-Hill Companies, Inc.

Appendix A Answers to Odd-Numbered Exercises 651

17.^20062007 Amount Percent

Sales $275,043 $265,951 (9,092) 
3.31%


cost of goods sold $192,343 $144,043 (48,300) 
25.11%

Gross profi t $82,700 $121,908 39,208 47.41%


expenses $51,000 $72,500 21,500 42.16%

Net income $31,700 $49,408 17,708 55.86%

19. Vertical


20. $406,800


21. $148,000


22. $258,800


23. $194,825


24. $53,975


25. 54.16%


26. 13.27%


27. 
    100%

Chapter 12 Section 12.2

1. $140,000


2. $107,400


3. $620,193


4. a) $77,900, b) $729,943


5. $350,000; cannot determine


6. Assets 2007 Amount Percent
   Current assets:
   Cash $85,000 3.01%
   Accounts receivable $255,000 9.02%
   To tal current assets $340,000 12.03%
   Property, plant, and equipment:
   Buildings $362,000 12.81%
   Land $250,000 8.84%
   Other plant and equipment $1,875,000 66.32%
   To tal P, P, and E $2,487,000 87.97%
   To tal assets $2,827,000 100.00%

Liabilities

Current liabilities:

Accounts payable $76,500 2.71%

Other $62,500 2.21%

To tal current liabilities $139,000 4.92%

To tal long-term liabilities $1,675,000 59.25%

To tal liabilities $1,814,000 64.17%

Equity

Contributed capital $250,000 8.84%

Retained earnings $763,000 26.99%

Total equity $1,013,000 35.83%

To tal liabilities and equity $2,827,000 100.00%

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