r=&inprogress=falseCh09 200AeBookCalculatorInstructions:1. Prepare a comparative income statement with horizontal analysis for the two-year period, using 20Y2 as the base year. Enter decreases as negative amounts and negative percentages. Round percentage changto one decimal place.Greyhound Technology CompanyComparative Income StatementFor the Years Ended December 31, 20Y3 and 20Y2Increase (Decrease) Increase (Decrease)20Υ320Υ2AmountPercentSales$636,292$541,000 $Cost of goods sold(462,400)(340,000)%Gross profit$173,892$201,000 $Selling expenses$(66,700)$(46,000) $Administrative expenses(38,400)(29,000)Total operating expenses$(105,100)$(75,000) $Income from operations$68,792$126,000 $Other income2,8802,300%Income before income tax$71,672$128,300 $%Income tax expense(20,100)(38,500)Net income$51,572$89,800 $%PreviousNextCheck My WorkAll work saved.Email InstructorSave and ExitSubmit Assignment for GradingAssignment Score: 17.31%WJULtv103DDD80DO0000F9F10F7F8F4F5F6F2F3....

Answered: Image /qna-images/answer/9bd4823b-d029-4555-b608-9bcc23f1c3ff.jpg

Answered: r=&inprogress=false Ch09 200A eBook…

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter24: Analysis Of Financial Statements

Section: Chapter Questions

Problem 9SPB

See similar textbooks

Similar questions

Profitability metrics The following selected data were taken from the financial statements of The O'Malley Group Inc. for December 31, 20Y5. 20Y4. and 20Y3: No dividends on common stock were declared between 20Y3 and 20Y5. a.Determine the return on total assets, the return on stockholders' equity, and the return on common stockholders' equity Tor the years 20Y4 and 20Y5. Round to one decimal place. b. What conclusions can be drawn from these data as to the company's profitability?
Q1) You are required to calculate the Relative Percentage Change in the company for the blanks below and the Net Profit for the other blanks. Show all working out below including the formula used for each year and include the completed table here. Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Net Profit ($ 000’) <blank> 50 200 150 225 250 <blank> 200 250 260 Relative Percentage Change N/A -50% 300% <blank> 50% 11% -30% 14% 25% <blank> Table 1: Net Profit ($) per financial year Q1 a) Using Excel, create a column chart of the Net Profit calculated in part (a) for the years 2010-2019. label the axis and provide an appropriate title. Q1 b) Using Excel, create a Sparkline of the Relative Percentage Change calculated in part (a) for the years 2011-2019. use the Sparkline options to mark if there are any negative values and include a horizontal axis to easily visualise…
Satterfield CompanyIncome StatementsFor the Years Ended December 31 20Y1 20Y0 Fees earned $534,100 $490,000 Operating expenses 328,960 320,000 Net income $205,140 $170,000 Prepare a horizontal analysis of Satterfield Company income statements. Round percent answers to one decimal place. If required, use the minus sign to indicate a decrease in the amount and percentage columns. 20Y1 20Y0 AmountIncrease/(Decrease) PercentIncrease/(Decrease) Fees earned $534,100 $490,000 $fill in the blank 1 fill in the blank 2% Operating expenses 328,960 320,000 $fill in the blank 3 fill in the blank 4 Net income $205,140 $170,000 $fill in the blank 5 fill in the blank 6
Horizontal analysis of income statementFor 2012, McDade Company reported a decline in net income. At the endof the year, T. Burrows, the president, is presented with the followingcondensed comparative income Statement: Instructions 1. Prepare a comparative income statement with horizontal analysis forthe two-year period, using 20Y1 as the base year. Round percentages toone decimal place.2. To the extent the data permit, comment on the significant relationshipsrevealed by the horizontal analysis prepared in (1).
1. Prepare a comparative income statement for the two-year period, presenting an analysis of each item in relationship to sales for each of the years. Round to one decimal place. Enter all amounts as positive numbers. Fielder Industries Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 Amount 20Y2 Percent 20Y1 Amount 20Y1 Percent Sales $1,300,000 fill in the blank bcf5f3fbd02f054_1% $1,180,000 fill in the blank bcf5f3fbd02f054_2% Cost of goods sold 682,500 fill in the blank bcf5f3fbd02f054_3% 613,600 fill in the blank bcf5f3fbd02f054_4% Gross profit $617,500 fill in the blank bcf5f3fbd02f054_5% $566,400 fill in the blank bcf5f3fbd02f054_6% Selling expenses $260,000 fill in the blank bcf5f3fbd02f054_7% $188,800 fill in the blank bcf5f3fbd02f054_8% Administrative expenses 169,000 fill in the blank bcf5f3fbd02f054_9% 177,000 fill in the blank bcf5f3fbd02f054_10% Total operating expenses $429,000 fill in the blank…
Begin by calculating the gross profit for each year, then prepare a horizontal analysis of revenues and gross profitlong dash—both in dollar amounts and in percentageslong dash—for 20192019 and 20182018. (Enter amounts in millions as provided to you in the problem statement. Round the percentages to one decimal place, X.X%. Use a minus sign or parentheses to indicate a decrease.) McDonald Corp. Income Statement - (Partial) Years Ended December 31, 2019 and 2018 (Amounts in millions) 2019 2018 2017 Revenues $9,575 $9,300 $8,975 Cost of Goods Sold 6,250 6,000 5,890 Gross Profit
Using these data from the comparative balance sheet of Cullumber Company, perform horizontal analysis. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 0 decimal places, e.g. 12%.) Increase or (Decrease) Dec. 31, 2022 Dec. 31, 2021 Amount Percentage Accounts receivable $ 608,400 $ 520,000 $Enter increase or decrease amount in dollars. Enter increase or decrease in percentages rounded to 0 decimal places. % Inventory $ 931,700 $ 770,000 $Enter increase or decrease amount in dollars. Enter increase or decrease in percentages rounded to 0 decimal points. % Total assets $3,381,000 $2,940,000 $Enter increase or decrease amount in dollars. Enter increase or decrease in percentages rounded to 0 decimal points. %
Using these data from the comparative balance sheet of Ivanhoe Company, perform horizontal analysis. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 0 decimal places, e.g. 12%.) Increase or (Decrease) Dec. 31, 2022 Dec. 31, 2021 Amount Percentage Accounts receivable $ 487,200 $ 420,000 $Enter increase or decrease amount in dollars. Enter increase or decrease in percentages rounded to 0 decimal places. % Inventory $ 804,000 $ 670,000 $Enter increase or decrease amount in dollars. Enter increase or decrease in percentages rounded to 0 decimal points. % Total assets $3,237,600 $2,840,000 $Enter increase or decrease amount in dollars. Enter increase or decrease in percentages rounded to 0 decimal points. %
For 20Y2, McDade Company reported a decline in net income. At the end of the year, T. Burrows, the president, is presented with the following condensed comparative income statement: Instructions Prepare a comparative income statement with horizontal analysis for the two-year period, using 20Y1 as the base year. Round percentages to one decimal place. Answer Check Figure: Sales, 12.0% increase To the extent the data permit, comment on the significant relationships revealed by the horizontal analysis prepared in (1). PR 17-2A Vertical analysis of incom
Using the table below create SinCo's Income Statement and Balance Sheet for the Prior Year and Current Year, and then answer the questions that are below. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Prior Year Current Year Revenue $4,000 5600 Cost of Good Sold 1,600 2,520 Depreciation 500 525 Inventory 300 340 SG&A 500 580 Interest Expenses 150 172 Common Stock and Paid-in Capital 2,200 2,200 Federal and State Taxes (35% of EBT) 400 Accounts Payable 300 340 Accounts Receivable 400 450 Net Fixed Assets 5,000 5000 Retained Earnings (Balance Sheet) 1,000 Long-Term Debt 2,000 2500 Notes Payable 1,000 950 Dividends Paid 410 410 Cash 800 Income Statement Questions: What is SinCo's EBITDA for the current year? What is SinCo's EBIT for the current year? What is SinCo's Net Income for the current year? Balance Sheet Questions: What is SinCo's current year's Retained Earnings…
omplete the two final columns shown beside each item in Tiger Audio’s comparative financial statements. (Decreases should be indicated by a minus sign. Round percentage values to 1 decimal place.) TIGER AUDIO Horizontal Analysis Increase (Decrease) in Current (versus Previous) Current Previous Amount Percentage Income Statement Sales Revenue $226,000 $186,600 % Cost of Goods Sold 131,650 113,400 % Gross Profit 94,350 73,200 % Operating Expenses 41,200 34,530 % Interest Expense 4,800 3,990 % Income before Income Tax Expense 48,350 34,680 % Income Tax Expense (30%) 14,505 10,404 % Net Income $33,845 $24,276 % Balance Sheet Cash $30,320 $32,640 % Accounts Receivable, Net 19,700 16,800 % Inventory 26,200 22,800 % Property and Equipment, Net 135,000 123,000 % Total Assets $211,220 $195,240 % Accounts Payable $28,600 $26,200 % Income…
The following information is available from the annualreport of Frixell, Inc.: Currentliabilities . . . . $300,000Operatingincome . . . . . 240,000Net income . . . . 80,000 Currentassets . . . . $ 480,000Average totalassets . . . . 2,000,000Average totalequity . . . . 800,000Which of the following statements are correct? (More thanone statement may be correct.)a. The return on equity exceeds the return on assets.b. The current ratio is 0.625 to 1.

SEE MORE QUESTIONS

Recommended textbooks for you

College Accounting, Chapters 1-27

Accounting

ISBN:

9781337794756

Author:

HEINTZ, James A.

Publisher:

Cengage Learning,

Managerial Accounting

Accounting

ISBN:

9781337912020

Author:

Carl Warren, Ph.d. Cma William B. Tayler

Publisher:

South-Western College Pub

Cornerstones of Financial Accounting

Accounting

ISBN:

9781337690881

Author:

Jay Rich, Jeff Jones

Publisher:

Cengage Learning

College Accounting, Chapters 1-27

Accounting

ISBN:

9781337794756

Author:

HEINTZ, James A.

Publisher:

Cengage Learning,

Managerial Accounting

Accounting

ISBN:

9781337912020

Author:

Carl Warren, Ph.d. Cma William B. Tayler

Publisher:

South-Western College Pub

Cornerstones of Financial Accounting

Accounting

ISBN:

9781337690881

Author:

Jay Rich, Jeff Jones

Publisher:

Cengage Learning

Survey of Accounting (Accounting I)

Accounting

ISBN:

9781305961883

Author:

Carl Warren

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS