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

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

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 9.4.10P: Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of...

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The comparative statements of Corbin Company are presented below. CORBIN COMPANYIncome StatementFor the Years Ended December 31 2017 2016 Net sales (all on account) $600,500 $520,200 Expenses Cost of goods sold 414,600 354,200 Selling and administrative 119,900 113,300 Interest expense 8,200 5,100 Income tax expense 17,100 14,700 Total expenses 559,800 487,300 Net income $ 40,700 $ 32,900 CORBIN COMPANYBalance SheetsDecember 31 Assets 2017 2016 Current assets Cash $ 21,100 $ 17,600 Short-term investments 17,100 15,200 Accounts receivable (net) 86,100 73,000 Inventory 89,400 70,100 Total current assets 213,700 175,900 Plant assets (net) 423,800 383,200 Total assets $637,500 $559,100 Liabilities and Stockholders’ Equity…
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Operating data for Azam Corporation are presented below 2018 2017 Net Sales Rs. 75,000 Rs. 600,000 Cost of Goods Sold 480,000 408,000 Selling Expenses 105,000 84,000 Administrative Expense 75,000 54,000 Income Tax Expense 36,000 18,000 Net Income 54,000 36,000 Required: Prepare a schedule showing a vertical analysis for 2018 and 2017