Homework Answers
ANSWER:
| Particulars | Amount ($) | Percent |
|---|---|---|
|
net sales cost of goods sold |
1850 1542 |
100% 83.4% |
|
gross profit operating expenses |
308 208 |
16.6% 11.2% |
|
profit before income tax income tax expenses |
100 30 |
5.4% 1.6% |
| profit | 70 | 3.8% |
base amount = net sales = taken as 100%
percentage computation = (element/base amount) x 100%
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UNLICS Weekly Current Attempt in Progress Selected data (in thousands) from the income statement of Wildhorse...
Selected information from Wildhorse Ltd's statement of financial position and income statement is as follows: WILDHORSE...
Selected information from Wildhorse Ltd's statement of financial position and income statement is as follows: WILDHORSE LTD. Statement of Financial Position (partial) December 31 2018 2017 Current assets Accounts receivable $7,300 $13,000 Inventory 6,400 4,600 Prepaid expenses 3,200 2.100 Current liabilities Accounts payable 3,800 2,500 Income tax payable 1,500 650 Accrued liabilities 2.200 1.500 Bank loan payable-current portion 6,000 9.200 O WP hp WILDHORSE LTD. Income Statement Year Ended December 31, 2018 Net sales $205,000 Cost of goods sold 114.000...
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years...
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years ended December 31, are as follows: Current Year Previous Year Sales Cost of goods sold Gross profit Selling expenses Administrative expenses $541,200 456,000 585,200 $440,000 380,000 $23,730 $60,000 $21,000 18,000 $39,000 21,780 Total operating expenses $45,510 539,690 15,900 Income before income tax Income tax expenses $21,000 8,400 Net income $23,790 $12,600 a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease)...
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years...
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years ended December 31, are as follows: Current Year Previous Year Sales $496,100 $410,000 Cost of goods sold 401,200 340,000 Gross profit $94,900 $70,000 Selling expenses $26,640 $24,000 Administrative expenses 23,800 20,000 Total operating expenses $50,440 $44,000 Income before income tax $44,460 $26,000 Income tax expenses 17,800 10,400 Net income $26,660 $15,600 a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease)...
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years...
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years ended December 31, are as follows: Current Year Previous Year Sales $624,000 $480,000 Cost of goods sold 512,000 400,000 Gross profit $112,000 $80,000 Selling expenses $33,600 $28,000 Administrative expenses 30,720 24,000 Total operating expenses $64,320 $52,000 Income before income tax $47,680 $28,000 Income tax expenses 19,100 11,200 Net income $28,580 $16,800 a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease)...
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years...
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years ended December 31, are as follows Current Year $799,800 685,800 $114,000 $34,510 30,480 $64,990 $49,010 19,600 $29,410 Previous Year $620,000 540,000 $80,000 $29,000 24,000 $53,000 $27,000 10,800 $16,200 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Income before income tax Income tax expenses Net income a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease)...
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years...
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years ended December 31, are as follows: Current Year Previous Year Sales $512,000 $400,000 Cost of goods sold 428,400 340,000 Gross profit $83,600 $60,000 Selling expenses $24,780 $21,000 Administrative expenses 22,680 18,000 Total operating expenses $47,460 $39,000 Income before income tax $36,140 $21,000 Income tax expenses 14,500 8,400 Net income $21,640 $12,600 a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease)...
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years...
Horizontal Analysis of the Income Statement Income statement
data for Winthrop Company for two recent years ended December 31,
are as follows: Current Year Sales Cost of goods sold Gross profit
$665,600 567,000 Previous Year $520,000 450,000 $98,600 $70,000
Selling expenses$29,500 Administrative expenses 26,460 $25,000
21,000 $ 46,000 Total operating expenses$55,960 Income before
income tax$42,640 $ 24,000 Income tax expenses 17,1009,600 Net
income$ 25,540$ 14,400
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent...
17-05 Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent...
17-05 Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years ended December 31, are as follows: Current Year Previous Year Sales $488,400 $370,000 Cost of goods sold 403,000 310,000 Gross profit $85,400 $60,000 Selling expenses $25,620 $21,000 Administrative expenses 23,400 18,000 Total operating expenses $49,020 $39,000 Income before income tax $36,380 $21,000 Income tax expenses 14,600 8,400 Net income $21,780 $12,600 a. Prepare a comparative income statement with horizontal analysis, indicating the increase...
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years...
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years ended December 31, are as follows: Current Year Previous Year Sales $878,400 $720,000 Cost of goods sold 725,900 610,000 Gross profit $152,500 $110,000 Selling expenses $42,560 $38,000 Administrative expenses 38,400 32,000 Total operating expenses $80,960 $70,000 Income before income tax $71,540 $40,000 Income tax expenses 28,600 16,000 Net income $42,940 $24,000 a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease)...
reasons Income statement data for Winthrop Company for two recent years ended December Current Year Previous...
reasons Income statement data for Winthrop Company for two recent years ended December Current Year Previous Year Sales $2,240,000 $2,000,000 Cost of goods sold (1.925.000) (1,750,000) Gross profit $315,000 $250.000 Seling expenses ${152,500) ${125.000) Administrative expenses (118,000) (100,000) Total operating expenses [270,500) $225,000) Income before income tax expense 544.500 $25.000 Income tax expense (17,800) (10,000) Net Income 3. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease for the current year when compared with the previous year....
Selected information from Wildhorse Ltd's statement of financial position and income statement is as follows: WILDHORSE LTD. Statement of Financial Position (partial) December 31 2018 2017 Current assets Accounts receivable $7,300 $13,000 Inventory 6,400 4,600 Prepaid expenses 3,200 2.100 Current liabilities Accounts payable 3,800 2,500 Income tax payable 1,500 650 Accrued liabilities 2.200 1.500 Bank loan payable-current portion 6,000 9.200 O WP hp WILDHORSE LTD. Income Statement Year Ended December 31, 2018 Net sales $205,000 Cost of goods sold 114.000...
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years ended December 31, are as follows: Current Year Previous Year Sales Cost of goods sold Gross profit Selling expenses Administrative expenses $541,200 456,000 585,200 $440,000 380,000 $23,730 $60,000 $21,000 18,000 $39,000 21,780 Total operating expenses $45,510 539,690 15,900 Income before income tax Income tax expenses $21,000 8,400 Net income $23,790 $12,600 a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease)...
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years ended December 31, are as follows Current Year $799,800 685,800 $114,000 $34,510 30,480 $64,990 $49,010 19,600 $29,410 Previous Year $620,000 540,000 $80,000 $29,000 24,000 $53,000 $27,000 10,800 $16,200 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Income before income tax Income tax expenses Net income a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease)...
Horizontal Analysis of the Income Statement Income statement
data for Winthrop Company for two recent years ended December 31,
are as follows: Current Year Sales Cost of goods sold Gross profit
$665,600 567,000 Previous Year $520,000 450,000 $98,600 $70,000
Selling expenses$29,500 Administrative expenses 26,460 $25,000
21,000 $ 46,000 Total operating expenses$55,960 Income before
income tax$42,640 $ 24,000 Income tax expenses 17,1009,600 Net
income$ 25,540$ 14,400
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent...
reasons Income statement data for Winthrop Company for two recent years ended December Current Year Previous Year Sales $2,240,000 $2,000,000 Cost of goods sold (1.925.000) (1,750,000) Gross profit $315,000 $250.000 Seling expenses ${152,500) ${125.000) Administrative expenses (118,000) (100,000) Total operating expenses [270,500) $225,000) Income before income tax expense 544.500 $25.000 Income tax expense (17,800) (10,000) Net Income 3. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease for the current year when compared with the previous year....
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