How does Proli compare to the industry A Agreed information to reference book

How does proli compare to the industry a agreed

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How does Proli compare to the industry? A = Agreed information to reference book containing industry statistics Auditor summary of profitability: Are there any specific accounts that should be tested more thoroughly than others? Auditor summary of solvency: Are there any specific accounts that should be tested more thoroughly than others? Auditor summary of liquidity: Are there any specific accounts that should be tested more thoroughly than others? AUDITOR OVERALL CONCLUSION: Based on this analysis, which areas deserve greater audit emphasis? *Note: 2011 balances are not available so end-of-year amounts rather than averages are used to calculate ratios. RP
Proli Footwear Vertical Analysis ($ in 1,000) December 31, 2014 Balance Industry Cash and Cash Equivalents 319 0.3% 5.2% A Trade Accounts Receivable, net 25,466 23.7% 19.8% A Inventories 43,668 40.7% 46.1% A Other Current Assets 4,718 4.4% 2.3% A Total Current Assets 74,171 69.1% 73.4% A Total Plant Assets 15,381 14.3% 16.1% A Total Intangible Assets 14,568 13.6% 2.4% A Other Assets 3,285 3.1% 8.1% A 107,405 100.0% 100.0% Current Maturities of Long-Term Liabilities 441 0.4% 3.1% A Notes Payable 12,800 11.9% 16.6% A Accounts Payable and Accrued Expenses 11,735 10.9% 10.3% A Total Current Liabilities 24,976 23.3% 38.3% A Long Term Debt and Lease Obligations 5,962 5.6% 10.7% A Other Long-Term Liabilities 3,357 3.1% 4.1% A 34,295 31.9% 53.1% Common Stock 50 0.0% Additional Paid in Capital 22,500 20.9% Retained Earnings 50,558 47.1% 73,108 68.1% 46.9% 107,403 100.0% 100.0% Auditor Overall Conclusion: A = Agreed information to reference book containing industry statistics Proli Footwear Vertical Analysis ($ in 1,000) December 31, 2014 Common Size Auditor Summary: Exceeds, below, equal to industry Total Assets Total Liabilities Total Stockholders' Equity Total Liabilities and Stockholders' Equity
Balance Industry Net Sales 146,745 100.0% 100.0% Cost of Goods Sold 108,712 74.1% 66.9% A Gross Profit 38,033 25.9% 33.1% A Selling and Administrative Expenses 32,876 22.4% 29.2% A Operating Income 5,157 3.5% 3.9% A Other Income/(Expense) (1,465) -1.0% 1.3% A Income before Income Taxes 3,692 2.5% 2.6% A Income Tax Expense 1,600 1.1% 2,092 1.4% Auditor Overall Conclusion: A = Agreed information to reference book containing industry statistics Common Size Auditor Summary: Exceeds, below, equal to industry Net Income
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P R O L I F O O T W E A R W O R K I N G T R I A L B A L A N C E - D E C E M B Account Preliminary Balances Accounts # Debit Credit Imprest Petty Cash Fund 1000 3,000 Cash-Operating Account 1010 166,083 Cash-Payroll Account 1020 0 Cash-Treasury Bills 1030 150,000 Trade Accounts Receivable 1200 26,566,100 Allowance for Doubtful Accounts 1250 1,100,000 Other Accounts Receivable 1260 0 Inventories: Raw Materials 1310 6,550,104 Inventories: Work in Process 1315 0 Inventories: Finished Goods 1320 37,117,696 Prepaid Expenses 1400 4,717,900 Land 1511 1,879,000 Buildings 1512 3,464,840 Leased Buildings 1513 3,489,988 Manufacturing Equipment 1521 14,992,700 Warehouse Equipment 1522 13,795,400 Office Equipment 1523 3,539,800 Accumulated Depreciation-Buildings 1531 3,534,647 Accumulated Depreciation-Leased Builds 1532 2,708,170 Accumulated Depreciation-Manufacturing Equipment 1533 12,693,959 Accumulated Depreciation-Warehouse Equipment 1534 4,909,542 Accumulated Depreciation-Office Equipment 1535 1,934,198 P R O L I F O O T W E A R W O R K I N G T R I A L

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