ACCEL'S COMPANIES Income Statement Years Ended May 31, 2018 and 2017 2018 2017 Net Sales Revenue $ 40,600 $ 40,500 Cost of Goods Sold 28,400 30,600 Interest Expense 600 570 All Other Expenses 4,300 8,200 Net Income $ 7,300 $ 1,130 ACCEL'S COMPANIES Balance Sheet May :1, 2018 and 2017 Assets Liabilities 2018 2017 2018 2017 $ 2,400 900 Total Current Liabilities $ 28,000 $ 13,200 Cash Short-term Investments 28,000 9,000 Long-term Liabilities 13,900 10,300 Accounts Receivable 7,500 5,200 Total Liabilities 41,900 23,500 Merchandise Inventory 6,900 8,600 Stockholders' Equity 1,500 Common Stock 25,200 Retained Earnings 29,000 Total Equity S 54,200 Total Liabilities and Equity Other Current Assets 8,000 11,000 11,000 Total Current Assets 52,800 29,900 19,700 All Other Assets 30,000 40,900 30,700 Total Assets S 82,800 $ 82,800 5 54,200

subject : General accounting

E18-2 Operating data for Navarro Corporation are presented below. 2017 2016 Net sales $750,000 465,000 105,000 60,000 36,000 84,000 $600,000 390,000 Cost of goods sold Selling expenses Administrative expenses Income tax expense 66,000 54,000 27,000 63,000 Net income Instructions Prepare a schedule showing a vertical analysis for 2017 and 2016.

"Keeper Corporation’s income statement for the year ended June 30, 2014, and its comparative balance sheets for June 30, 2014 and 2013 follow.Keeper CorporationIncome StatementFor the Year ended June 30, 2014Sales$234,000Cost of goods sold156,000Gross margin$78,000Operating expenses45,000Operating income$33,000Interest expense2,800Income before income taxes$30,200Income taxes expense12,300Net income$17,900Keeper CorporationComparative Balance SheetsJune 30, 2014 and 201320142013AssetsCash$69,900$12,500Accounts receivable (net)21,00026,000Inventory43,40048,400Prepaid expenses3,2002,600Furniture55,00060,000Accumulated depreciation—furniture(9,000)(5,000)Total assets$183,500$144,500Liabilities and Stockholders’ equityAccounts payable$13,000$14,000Income taxes payable1,2001,800Notes payable (long-term)37,00035,000Common stock, $10 par value115,00090,000Retained earnings17,3003,700Total liabilities and stockholders’ equity$183,500$144,500Keeper issued a $22,000 note payable for purchase of…