Homework Answers
Answer:
| Mariners Corp. | ||||
| Horizontal analysis | ||||
| A | B | C=A-B | D=C/B | |
| 2017 | 2016 | Increase or decrease | Change in % | |
| Sales revenue | $ 60,000 | $ 50,000 | $ 10,000 | 20.00% |
| Cost of Goods Sold | $ 42,000 | $ 30,000 | $ 12,000 | 40.00% |
| Gross Profit | $ 18,000 | $ 20,000 | $ (2,000) | -10.00% |
| Selling & Administrative expenses | $ 9,000 | $ 5,000 | $ 4,000 | 80.00% |
| Operating Income | $ 9,000 | $ 15,000 | $ (6,000) | -40.00% |
| Interest expenses | $ 2,000 | $ 2,000 | $ - | 0.00% |
| Income before taxes | $ 7,000 | $ 13,000 | $ (6,000) | -46.15% |
| Income tax | $ 2,000 | $ 4,000 | $ (2,000) | -50.00% |
| Net Income | $ 5,000 | $ 9,000 | $ (4,000) | -44.44% |
| Vertical Analysis | ||||
| 2016 | 2017 | |||
| A | B=A/sales | C | D=C/Sales | |
| Amount | % | Amount | % | |
| Sales revenue | $ 50,000 | 100.00% | $ 60,000 | 100.00% |
| Cost of Goods Sold | $ 30,000 | 60.00% | $ 42,000 | 70.00% |
| Gross Profit | $ 20,000 | 40.00% | $ 18,000 | 30.00% |
| Selling & Administrative expenses | $ 5,000 | 10.00% | $ 9,000 | 15.00% |
| Operating Income | $ 15,000 | 30.00% | $ 9,000 | 15.00% |
| Interest expenses | $ 2,000 | 4.00% | $ 2,000 | 3.33% |
| Income before taxes | $ 13,000 | 26.00% | $ 7,000 | 11.67% |
| Income tax | $ 4,000 | 8.00% | $ 2,000 | 3.33% |
| Net Income | $ 9,000 | 18.00% | $ 5,000 | 8.33% |
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