Godo Common-size and trend percentages for a company's net sales, cost of goods sold, and expenses followCommon-Size Percentages2023Trend Percentages2022100.0%57.924.1Net salesCost of goods soldExpenses20212022202320222021100.0% 100.0%51.654.821.922.42023108.1X2021106.5% 100.0%115.9 112.0 100.0111.9 104.8 100.0Required:a. Calculate the profit percentage for 2021 2022 and 2023 (Round the final answers to 2 decimal places.)Profit PercentageProfitb. Determine whether the company's profit increased, decreased, or remained unchanged during theee-year period

Common size analysis is that analysis under which each items is presented as percent of sales. Net…

Common-size and trend percentages for a company's net sales, cost of goods sold, and expenses follow Common-Size Percentages Trend Percentages 2023 100.0% 2022 106.5% 112.0 $7.9 24.1 Net sales Cost of goods sold Expenses 2021 2022 2023 2022 100.0% 54.8 21.9 Required: a. Calculate the profit percentage for 2021 2022 and 2023 (Round the final answers to 2 decimal places.) Profit Percentage Profit 2021 2021 100.0% $1.6 100.0% 100.0 22.4 111.9 104.8 100.0 2023 108.1% 115.9 b. Determine whether the company's profit increased, decreased, or remained unchanged during the xee year period

Common-size and trend percentages for a company's net sales, cost of goods sold, and expenses follow Common-Size Percentages Trend Percentages 2023 100.0% 2022 106.5% 112.0 $7.9 24.1 Net sales Cost of goods sold Expenses 2021 2022 2023 2022 100.0% 54.8 21.9 Required: a. Calculate the profit percentage for 2021 2022 and 2023 (Round the final answers to 2 decimal places.) Profit Percentage Profit 2021 2021 100.0% $1.6 100.0% 100.0 22.4 111.9 104.8 100.0 2023 108.1% 115.9 b. Determine whether the company's profit increased, decreased, or remained unchanged during the xee year period

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 87PSB

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