ContentBb 2193517+i learn-us-east-1-prod-fleet02-xythos.content.blackboardcdn.com/5f7ce11c673e5/2193517?X-Blackboard-Expiration=1648004400000&X-Blackboard-Signature=JN20DGrMNpdS8d1. A ** Ow WordCounter - Co...y! YahooA Regions Bank | Che..Welcome, Justin – B.* eBooks, Textbooks...O Jefferson State Co...Electronics, Cars, Fa.C Home | Chegg.com21935171 / 1|100%+ |826Chapter 17 Financial Statement AnalysisProblems Series BPR 17-1B Horizontal analysis of income statementов. 1V 1. Net sales,30.0% increaseFor 2014, Macklin Inc. reported its most significant increase in net income in years. Atthe end of the year, John Mayer, the president, is presented with the following condensedcomparative income statement:1SPREADSHEETMacklin Inc.Comparative Income Statement2itilid For the Years Ended December 31, 2014 and 2013GENERALLEDGER20142013Sales .....$936,000$720,000Sales returns and allowances26,00020,000Net sales.....$910,000$700,000350,000441,000Cost of goods sold.Gross profit ...Selling expenses....$350,000$115,000$469,000$ 139,150Administrative expenses99,45085,000Total operating expensesIncome from operations$200,000$150,000$238,600$230,400Other income65,00050,000Income before income tax$295,400$200,000Income tax expense65,00050,000Net income$230,400$150,000Instructions1. Prepare a comparative income statement with horizontal analysis for the two-yearperiod, using 2013 as the base year. Round to one decimal place.To the extent the data permit, comment on the significant relationships re-vealed by the horizontal analysis prepared in (1).2.orosTros000 88 2amo000,20A000,0a1PR 17-2B Vertical analysis of income statementOBJ. 1V 1. Net income,For 2014, Fielder Industries Inc. initiated a sales promotion campaign that included the2013, 14.0%AEAS expenditure of an additional $40,000 for advertising. At the end of the year, Leif Grando,SPREADSHEETthe president, is presented with the following condensed comparative income statement:5:58 PMO Type here to search日Rain coming3/22/2022*.....

Net income is the excess of net sales over total expenses incurred in that particular financial…

PR 17-18 Horizontal analysis of income statement For 2014, Macklin Inc. reported its most significant increase in net income in years. At the end of the year, John Mayer, the president, is presented with the following condensed comparative income statement: OBJ. 1 V1. Net sales, 30.0% increase PREADSHEE GINERALLED Macklin Inc. Comparative Income Statement For the Years Ended December 31, 2014 and 2013 2014 2013 $936,000 26,000 $910,000 Sales. Sales returns and allowances.. Net sales... Cost of goods sold... Gross profit.. Selling expenses Administrative expenses.. Total operating expenses. Income from operations. Other income.. $720,000 20,000 $700,000 350,000 441,000 $469.000 $ 139,150 99,450 $238,600 $230,400 65.000 $295,400 65,000 $230,400 $350,000 $115,000 85,000 $200,000 $150,000 50,000 $200,000 Income before income tax Income tax expense. 50,000 $150,000 Net income. Instructions 1. Prepare a comparative income statement with horizontal analysis for the two-year period, using 2013 as the base year. Round to one decimal place. To the extent the data permit, comment on the significant relationships re- vealed by the horizontal analysis prepared in (1). 2.

PR 17-18 Horizontal analysis of income statement For 2014, Macklin Inc. reported its most significant increase in net income in years. At the end of the year, John Mayer, the president, is presented with the following condensed comparative income statement: OBJ. 1 V1. Net sales, 30.0% increase PREADSHEE GINERALLED Macklin Inc. Comparative Income Statement For the Years Ended December 31, 2014 and 2013 2014 2013 $936,000 26,000 $910,000 Sales. Sales returns and allowances.. Net sales... Cost of goods sold... Gross profit.. Selling expenses Administrative expenses.. Total operating expenses. Income from operations. Other income.. $720,000 20,000 $700,000 350,000 441,000 $469.000 $ 139,150 99,450 $238,600 $230,400 65.000 $295,400 65,000 $230,400 $350,000 $115,000 85,000 $200,000 $150,000 50,000 $200,000 Income before income tax Income tax expense. 50,000 $150,000 Net income. Instructions 1. Prepare a comparative income statement with horizontal analysis for the two-year period, using 2013 as the base year. Round to one decimal place. To the extent the data permit, comment on the significant relationships re- vealed by the horizontal analysis prepared in (1). 2.

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter5: Operating Activities: Purchases And Cash Payments

Section: Chapter Questions

Problem 2.1C

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