Exercise 17-5 (Algo) Determining income effects from common-size and trend percents LO P1, P2 Common-size and trend percents for Roxi Company's sales, cost of goods sold, and expenses follow. Sales Cost of goods sold Operating expenses Change in Net Net Income Income Common-Size Percents Current Year 100.0% 63.3 14.3 Sales Cost of Goods Sold Operating Expenses Net Income 1 Year 2 Years Current Year 104.7% 117.7 106.3 Ago 100.0% 61.1 13.8 Determine the net income for the following years. Did the net income increase, decrease, or remain unchanged in this three-year period? Complete this question by entering your answers in the tabs below. Current Year Ago 100.0% 56.3 14.1 Determine the net income for the following years. Assuming sales were $100,000 2 yrs ago, what is net income in each year? Note: Enter all amounts as positive values. Trend Percents 1 Year Ago 2 Years Ago $ $ 1 Year 2 Years Ago Ago 103.5% 100.0% 112.3 100.0 101.3 100.0 100,000 56,300 14,100 29,600
Exercise 17-5 (Algo) Determining income effects from common-size and trend percents LO P1, P2 Common-size and trend percents for Roxi Company's sales, cost of goods sold, and expenses follow. Sales Cost of goods sold Operating expenses Change in Net Net Income Income Common-Size Percents Current Year 100.0% 63.3 14.3 Sales Cost of Goods Sold Operating Expenses Net Income 1 Year 2 Years Current Year 104.7% 117.7 106.3 Ago 100.0% 61.1 13.8 Determine the net income for the following years. Did the net income increase, decrease, or remain unchanged in this three-year period? Complete this question by entering your answers in the tabs below. Current Year Ago 100.0% 56.3 14.1 Determine the net income for the following years. Assuming sales were $100,000 2 yrs ago, what is net income in each year? Note: Enter all amounts as positive values. Trend Percents 1 Year Ago 2 Years Ago $ $ 1 Year 2 Years Ago Ago 103.5% 100.0% 112.3 100.0 101.3 100.0 100,000 56,300 14,100 29,600
Accounting (Text Only)
26th Edition
ISBN:9781285743615
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter17: Financial Statement Analysis
Section: Chapter Questions
Problem 17.1EX
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