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Prepare a horizontal analysis of the income statement. (Negative answers should be indicated by a minus sign. Round your percentage answers to 1 decimal place. (i.e., 0.234 should be entered as 23.4).) Revenues Sales (net) Other revenues Total revenues Expenses FRANKLIN COMPANY Horizontal Analysis of Income Statements Year 4 Cost of goods sold Selling, general, and administrative expenses Interest expense Income tax expense Total expenses Net income (loss) $ 232,000 $ 210,400 8,800 5,700 240,800 216,100 $ 119,200 54,600 6,200 22,700 202,700 38,100 $ Year 3 < Analysis Bal Sheet 102,600 48,800 5,400 21,700 178,500 37,600 % Change % % Analysis Inc Stmt >

Prepare a horizontal analysis of the income statement. (Negative answers should be indicated by a minus sign. Round your percentage answers to 1 decimal place. (i.e., 0.234 should be entered as 23.4).) Revenues Sales (net) Other revenues Total revenues Expenses FRANKLIN COMPANY Horizontal Analysis of Income Statements Year 4 Cost of goods sold Selling, general, and administrative expenses Interest expense Income tax expense Total expenses Net income (loss) $ 232,000 $ 210,400 8,800 5,700 240,800 216,100 $ 119,200 54,600 6,200 22,700 202,700 38,100 $ Year 3 < Analysis Bal Sheet 102,600 48,800 5,400 21,700 178,500 37,600 % Change % % Analysis Inc Stmt >

College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter20: Corporations: Organization And Capital Stock
Section: Chapter Questions
Problem 5SEA: STOCKHOLDERS EQUITY SECTION After closing its books on December 31, Pro Parts stockholders equity...
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Prepare a horizontal analysis of the balance sheet. (Negative answers should be indicated by a minus sign. Round your percentage answers to 1 decimal place. (i.e., 0.234 should be entered as 23.4).)

 

Liabilities and Stockholders' Equity Liabilities Current liabilities Notes payable Accounts payable Salaries payable Total current liabilities Noncurrent liabilities Bonds payable Other Total noncurrent liabilities Total liabilities Stockholders' equity Preferred stock (par value $10, 4% cumulative, nonparticipating; 7,300 shares authorized and issued) Common stock (no par; 50,000 shares authorized; 10,000 shares issued) Retained earnings Total stockholders' equity Total liabilities & stockholders' equity $ 16,100 $ 112,500 20,100 148,700 99,000 31,300 130,300 279,000 73,000 73,000 159,700 305,700 584,700 $ 4,500 98,700 14,200 117,400 99,000 26,600 125,600 243,000 73,000 73,000 137,500 283,500 526,500 57.8 %
Transcribed Image Text:Liabilities and Stockholders' Equity Liabilities Current liabilities Notes payable Accounts payable Salaries payable Total current liabilities Noncurrent liabilities Bonds payable Other Total noncurrent liabilities Total liabilities Stockholders' equity Preferred stock (par value $10, 4% cumulative, nonparticipating; 7,300 shares authorized and issued) Common stock (no par; 50,000 shares authorized; 10,000 shares issued) Retained earnings Total stockholders' equity Total liabilities & stockholders' equity $ 16,100 $ 112,500 20,100 148,700 99,000 31,300 130,300 279,000 73,000 73,000 159,700 305,700 584,700 $ 4,500 98,700 14,200 117,400 99,000 26,600 125,600 243,000 73,000 73,000 137,500 283,500 526,500 57.8 %
Prepare a horizontal analysis of the income statement. (Negative answers should be indicated by a minus sign. Round your percentage answers to 1 decimal place. (i.e., 0.234 should be entered as 23.4).) Revenues Sales (net) Other revenues Total revenues Expenses FRANKLIN COMPANY Horizontal Analysis of Income Statements Year 4 Cost of goods sold Selling, general, and administrative expenses Interest expense Income tax expense Total expenses Net income (loss) $ 232,000 $ 210,400 8,800 5,700 240,800 216,100 $ 119,200 54,600 6,200 22,700 202,700 38,100 $ Year 3 < Analysis Bal Sheet 102,600 48,800 5,400 21,700 178,500 37,600 % Change % % Analysis Inc Stmt >
Transcribed Image Text:Prepare a horizontal analysis of the income statement. (Negative answers should be indicated by a minus sign. Round your percentage answers to 1 decimal place. (i.e., 0.234 should be entered as 23.4).) Revenues Sales (net) Other revenues Total revenues Expenses FRANKLIN COMPANY Horizontal Analysis of Income Statements Year 4 Cost of goods sold Selling, general, and administrative expenses Interest expense Income tax expense Total expenses Net income (loss) $ 232,000 $ 210,400 8,800 5,700 240,800 216,100 $ 119,200 54,600 6,200 22,700 202,700 38,100 $ Year 3 < Analysis Bal Sheet 102,600 48,800 5,400 21,700 178,500 37,600 % Change % % Analysis Inc Stmt >
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