*Exercise 14-3The comparative condensed balance sheets of Garcia Corporation are presented below.GARCIA CORPORATIONComparative Condensed Balance SheetsDecember 312014AssetsCurrent assets2013$ 73,52091,47039,000$211,210$ 40,080143,25016,570Total assets98,81027,570$199,900Property, plant, and equipment (net)Intangibles$ 80,740$ 47,690149,47014,050$199,900$211,210Liabilities and stockholders’ equityCurrent liabilitiesLong-term liabilitiesStockholders’ equityTotal liabilities and stockholders’ equity(a) Prepare a horizontal analysis of the balance sheet data for Garcia Corporation using 2013 as a base. (If am ount and percentage are a decrease show the num bers as negativ e, e.g. – 55,000, – 20% or (55,000). (20%). Round percentages to 1 decimal place, e.g. 12.3%.)GARCIA CORPORATIONCondensed Balance SheetsDecember 3120142013Increase(Decrease)PercentageChange from 2013AssetsCurrent AssetsProperty, Plant &Equipment (net)IntangiblesTotal assets$73,520$80,74098,81091,47027,57039,000$199,900$211,210$40,080$47,690143,250149,470Liabilities andStockholders’EquityCurrent LiabilitiesLong-termLiabilities1/24/30/2014Exercise 14-3Stockholders’EquityTotal liabilitiesandstockholders’equity16,57014,050$199,900$211,210(b) Prepare a vertical analysis of the balance sheet data for Garcia Corporation in columnar form for 2014. (Round percentages to 1 decim al place, e.g. 12.3%.)GARCIA CORPORATIONCondensed Balance SheetDecember 31, 2014AmountPercentAssetsCurrent Assets $73,520Property, Plant, and Equipment (net) 98,810Intangibles 27,570Total assets $199,900Liabilities and Stockholders’ EquityCurrent Liabilities $40,080Long-term Liabilities 143,250Stockholders’ EquityTotal liabilities and stockholders’ equity16,570$199,900*Problem 14-1A (Part Level Submission)Comparative statement data for Lionel Company and Barrymore Company, two competitors, appear below . All balancesheet data are as of December 31, 2014, and December 31, 2013.Lionel Company BarrymoreCompany2014 2013 2014 2013Net sales $1,500,730 $339,796Cost of goods sold 1,021,462 236,917Operatingexpenses276,354 76,026Interest expense 7,560 2,380Income taxexpense60,151 7,670Current assets 409,776 $386,259 86,417 $ 82,659Plant assets (net) 594,702 574,664 142,667 126,552Current liabilities 64,688 75,227 18,448 13,884Long-term liabilities 101,560 83,767 15,295 10,732Common stock, $5par580,000 580,000 132,000 132,000Retained earnings 258,230 221,929 63,341 52,595*(a)Prepare a vertical analysis of the 2014 income statement data for Lionel Company and Barrymore Company in columnarform. (Round percentages to 1 decimal place, e.g. 12.1%.)Exercise 14-5Nordstrom, Inc. operates department stores in numerous states. Selected financialstatement data for the year ending January 30, 2010, are shown below .Nordstrom, Inc.Balance Sheet (partial)(in millions) End-of-Year Beginning-of-YearCash and cash equivalents $ 795 $ 72Accounts receivable (net) 2,035 1,942Merchandise inventory 898 900Prepaid expenses 88 93Other current assets 238 210Total current assets $4,054 $3,217Total current liabilities $2,014 $1,601For the year, net sales were $8,258 and cost of goods sold was $5,328 (in millions).Compute the four liquidity ratios at the end of the year. (Round all answers to 1 decimalplace, e.g. 1.6 .)Current ratio :1Acid-test ratio :1Receivables turnover timesInventory turnover

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