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Selected comparative financial statements of Haroun Company follow. HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 2021–2015 ($ thousands) 2021 2020 2019 2018 2017 2016 2015 Sales $ 2,260 $ 1,979 $ 1,801 $ 1,651 $ 1,540 $ 1,432 $ 1,174 Cost of goods sold 1,625 1,322 1,137 995 925 865 689 Gross profit 635 657 664 656 615 567 485 Operating expenses 483 378 347 256 222 219 182 Net income $ 152 $ 279 $ 317 $ 400 $ 393 $ 348 $ 303 HAROUN COMPANY Comparative Year-End Balance Sheets December 31, 2021–2015 ($ thousands) 2021 2020 2019 2018 2017 2016 2015 Assets Cash $ 111 $ 147 $ 153 $ 156 $ 162 $ 160 $ 165 Accounts receivable, net 800 840 760 583 514 487 343 Merchandise inventory 2,893 2,106 1,840 1,551 1,393 1,183 858 Other current assets 74 67 41 74 62 63 33 Long-term investments 0 0 0 228 228 228 228 Plant assets, net 3,541 3,527 3,086 1,740 1,799 1,599 1,373 Total assets $ 7,419 $ 6,687 $ 5,880 $ 4,332 $ 4,158 $ 3,720 $ 3,000 Liabilities and…

Selected comparative financial statements of Haroun Company follow. HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 2021–2015 ($ thousands) 2021 2020 2019 2018 2017 2016 2015 Sales $ 2,272 $ 1,989 $ 1,810 $ 1,659 $ 1,548 $ 1,440 $ 1,180 Cost of goods sold 1,634 1,329 1,143 1,001 930 870 693 Gross profit 638 660 667 658 618 570 487 Operating expenses 486 380 349 257 223 220 183 Net income $ 152 $ 280 $ 318 $ 401 $ 395 $ 350 $ 304 HAROUN COMPANY Comparative Year-End Balance Sheets December 31, 2021–2015 ($ thousands) 2021 2020 2019 2018 2017 2016 2015 Assets               Cash $ 85 $ 113 $ 117 $ 120 $ 124 $ 123 $ 127 Accounts receivable, net 613 644 583 447 394 373 263 Merchandise inventory 2,218 1,615 1,411 1,189 1,068 907 658 Other current assets 57 51 32 56 48 48 25 Long-term investments 0 0 0 175 175 175 175 Plant assets, net 2,715 2,704 2,365 1,334 1,379 1,226 1,052 Total assets $ 5,688 $ 5,127 $ 4,508 $ 3,321…

Selected comparative financial statements of Haroun Company follow. HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 2021–2015 ($ thousands) 2021 2020 2019 2018 2017 2016 2015 Sales $ 2,766 $ 2,423 $ 2,204 $ 2,020 $ 1,885 $ 1,753 $ 1,437 Cost of goods sold 1,990 1,619 1,393 1,219 1,133 1,059 844 Gross profit 776 804 811 801 752 694 593 Operating expenses 592 463 425 314 272 268 223 Net income $ 184 $ 341 $ 386 $ 487 $ 480 $ 426 $ 370 HAROUN COMPANY Comparative Year-End Balance Sheets December 31, 2021–2015 ($ thousands) 2021 2020 2019 2018 2017 2016 2015 Assets Cash $ 93 $ 123 $ 127 $ 130 $ 135 $ 133 $ 138 Accounts receivable, net 667 700 634 486 428 405 286 Merchandise inventory 2,411 1,755 1,534 1,292 1,161 986 715 Other current assets 62 56 34 61 52 53 28 Long-term investments 0 0 0 190 190 190 190 Plant assets, net 2,950 2,939 2,571 1,451 1,499 1,333 1,143 Total assets $ 6,183 $ 5,573 $ 4,900 $ 3,610 $ 3,465 $ 3,100 $ 2,500 Liabilities and…

KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017   2019 2018 2017 Sales $ 459,716   $ 352,180   $ 244,400   Cost of goods sold   276,749     223,282     156,416   Gross profit   182,967     128,898     87,984   Selling expenses   65,280     48,601     32,261   Administrative expenses   41,374     30,992     20,285   Total expenses   106,654     79,593     52,546   Income before taxes   76,313     49,305     35,438   Income tax expense   14,194     10,108     7,194   Net income $ 62,119   $ 39,197   $ 28,244       KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017   2019 2018 2017 Assets                   Current assets $ 58,718   $ 39,300   $ 52,535   Long-term investments   0     500     4,280   Plant assets, net   109,047     99,561     58,646   Total assets $ 167,765   $ 139,361   $ 115,461   Liabilities and Equity                   Current liabilities $ 24,494…

Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 2021 Sales $ 562,795 2019 $ 299,200 338,803 Cost of goods sold Gross profit 191,488 223,992 107,712 Selling expenses 79,917 39,494 Administrative expenses 50,652 24,834 Total expenses 130,569 64,328 Income before taxes 93,423 43,384 Income tax expense 17,377 8,807 Net income $ 76,046 $ 34,577 KORBIN COMPANY Comparative Balance Sheets December 31 2021 2020 Assets Current assets $ 38,127 $ 56,965 0 Long-term investments 700 97,740 Plant assets, net Total assets 107,436 $164,401 $ 136,567 Liabilities and Equity Current liabilities $ 20,348 Common stock 68,000 $ 24,003 68,000 8,500 63,898 Other paid-in capital 8,500 Retained earnings 39,719 Total liabilities and equity $164,401 $ 136,567 2020 $431,147 273,778 157,369 59,498 37,941 97,439 59,930 12,286 $ 47,644 2019 $ 50,967 4,550 57,629 $ 113,146 $ 19,801 50,000 5,556 37,789 $113,146 4

A firm has been experiencing low profitability in recent years. Perform an analysis of the firm's financial position using the DuPont equation. The firm has no lease payments but has a $3 million sinking fund payment on its debt. The most recent industry average ratios and the firm's financial statements are as follows: Industry Average Ratios Current ratio Debt-to-capital ratio Times interest earned EBITDA coverage Inventory turnover Cash and equivalents Accounts receivables Inventories Total current assets 2x 17% 3 x 6 x 11 x Days sales outstandinga Calculation is based on a 365-day year. Balance Sheet as of December 31, 2021 (millions of dollars) $78 Accounts payable Other current liabilities 51 125 Notes payable $ 254 Total current liabilities Long-term debt Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and equity Gross fixed assets Less depreciation Net fixed assets Total assets 15 days Fixed assets turnover Total assets turnover…

The comparative statements of Oriole Company are presented here: ORIOLE COMPANYIncome StatementsFor the Years Ended December 31     2022   2021 Net sales   $1,895,640   $1,755,600 Cost of goods sold   1,063,640   1,011,100 Gross profit   832,000   744,500 Selling and administrative expenses   505,100   484,100 Income from operations   326,900   260,400 Other expenses and losses            Interest expense   23,600   21,600 Income before income taxes   303,300   238,800 Income tax expense   93,600   74,600 Net income   $209,700   $164,200   ORIOLE COMPANYBalance SheetsDecember 31 Assets   2022   2021 Current assets            Cash   $60,100   $64,200    Debt investments (short-term)   74,000   50,000    Accounts receivable (net)   122,900   107,900    Inventory   127,600   117,100      Total current assets   384,600   339,200 Plant assets (net)   659,000   530,300…

Mani

The comparative statements of Crane Company are presented here. Crane CompanyIncome StatementFor the Years Ended December 31     2022   2021 Net sales   $1,817,500     $1,753,100   Cost of goods sold   1,008,600     978,000   Gross profit   808,900     775,100   Selling and administrative expenses   519,200     480,800   Income from operations   289,700     294,300   Other expenses and losses                Interest expense   18,900     14,100   Income before income taxes   270,800     280,200   Income tax expense   81,512     78,000   Net income   $ 189,288     $ 202,200     Crane CompanyBalance SheetsDecember 31 Assets   2022   2021 Current assets                 Cash   $60,300     $64,500       Debt investments (short-term)   68,300     50,500       Accounts receivable (net)   116,100     101,000       Inventory   122,700     115,200         Total current assets   367,400     331,200…

General Accounting Question please solve this problem

WINDSOR, INC.Income StatementFor the Year Ended December 31, 2023 Net Sales $340 Cost of Goods Sold    238 Gross Profit 102 Operating Expenses    40 Net Income $  62 Using vertical analysis, what percentage is assigned to gross profit? 100% 70.0% 42.9% 30.0%

A company reported the following data for the year ending 2018: Description Amount Sales Sales discount Sales returns and allowances $400,000 $16,000 $13,000 $117,000 $153,000 |Cost of goods sold |Operating expense Income tax expense $23,750 Compute the amount of gross profit to be reported on the income statement. a. $101,000 b. $117,000 c. $254,000 d. $124,750 Answer O O O O

The comparative statements of Oriole Company are presented here. ORIOLE COMPANYIncome StatementsFor the Years Ended December 31     2022   2021 Net sales   $2,067,400   $1,925,000 Cost of goods sold   1,147,000   1,126,720 Gross profit   920,400   798,280 Selling and administrative expenses   560,000   536,480 Income from operations   360,400   261,800 Other expenses and losses            Interest expense   24,640   22,400 Income before income taxes   335,760   239,400 Income tax expense   100,728   71,820 Net income   $ 235,032   $ 167,580   ORIOLE COMPANYBalance SheetsDecember 31 Assets   2022   2021 Current assets            Cash   $ 67,312   $ 71,904    Debt investments (short-term)   82,880   56,000    Accounts receivable   131,936   115,136    Inventory   141,120   129,360      Total current assets   423,248   372,400 Plant…

General accounting

Concord, Inc. has the following Income Statement (in millions): CONCORD, INC. Income Statement For the Year Ended December 31, 2026 Net Sales $145 Cost of Goods Sold 87 Gross Profit Operating Expenses Net Income 58 O 66.7% 40.0% 100.0% 60.0% 39 $19 Using vertical analysis, what percentage is assigned to gross profit?