Homework Answers
Balance Sheet 2019 2018 Amount Percentage
Cash 11,356 11,946 -590 -5%
Short term Investments 122,463 121,822 641 0.5%
Inventories 2,063 2,662 -599 -22%
Goodwill 42,026 35,683 6343 18%
Accounts Payable 9,382 8,617 765 9%
Income Statement 2019 2018 Amount Percentage
Revenue 125,843 110,360 15,483 14%
General Exp. 4,885 4,754 131 3%
R&D 16,876 14,726 2,150 15%
Sales & Marketing 18,213 17,469 744 4%
Cost of revenue 42,910 38,353 4,557 12%
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Conduct a horizontal analysis on any 5 items each from the balance
sheet and the income...
Prepare a horizontal analysis of both the balance sheet and income statement. Complete this question by...
Prepare a horizontal analysis of both the balance sheet and income statement. Complete this question by entering your answers in the tabs below. Analysis Bal Sheet Analysis Inc Stmt Prepare a horizontal analysis of the balance sheet. (Negative answers should be indicated by a minus sign. Round your answers to 1 decimal place. (i.e., .234 sho be entered as 23.4).). FANNING COMPANY Horizontal Analysis of Balance Sheets 2019 2018 Percentage Change $ Assets Current assets Cash Marketable securities Accounts receivable...
LO2E6-29. Reformulating Balance Sheet and Income Statement Items for LIFO to FIFO ADJUSTMENTS 6.1 PHILLIPS 66...
LO2E6-29. Reformulating Balance Sheet and Income Statement Items for LIFO to FIFO ADJUSTMENTS 6.1 PHILLIPS 66 In its December 2016 10-K, Phillips 66 reported the following information ($ millions). (PSX) 2016 Assets 2016 Inventories 2016 LIFO Reserve 2016 Increase in LIFO Reserve Tax Rate $51,653 $3,150 $3,300 $2,000 35% a. Determine the necessary adjustments to the following balance sheet line items. i. Inventories ii. Total assets iii. Tax liabilities iv. Equity b. Determine the necessary adjustments to the following income...
Analysis Bal Sheet Analysis Inc Stmt Prepare a horizontal analysis of the balance sheet. (Negative answers...
Analysis Bal Sheet Analysis Inc Stmt Prepare a horizontal analysis of the balance sheet. (Negative answers should be indicated by a minus sign. Round your answers to 1 decimal place. (i.e., .234 should be entered as 23.4).) points FINCH COMPANY Horizontal Analysis of Balance Sheets 2019 2018 Percentage Change eBook Print $ $ References Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories Prepaid items Total current assets Investments Plant (net) Land 17,400 20,200 54,200 136,100 26,700 254,800 27,900...
The following line items are from the vertical analysis of an income statement: Amount Percent $300...
The following line items are from the vertical analysis of an income statement: Amount Percent $300 300% Total revenues Total expenses Net income 200 200 100% $100 What needs to be changed on the statement? O a. The percentage for total expenses should be 33%. O b. Total revenues should be the base expressed as 100%. O c. The percentage for net income should 25%. O d. None of these choices are correct.
Prepare a horizontal analysis of both the balance sheet and income statement. BENSON COMPANY Horizontal Analysis...
Prepare a horizontal analysis of both the balance sheet and income statement. BENSON COMPANY Horizontal Analysis of Balance Sheets 2019 2018 Percentage Change Assets Current assets Cash $17,700 $13,300 not attempted % Marketable securities 20,600 6,800 not attempted Accounts receivable (net) 54,100 46,900 not attempted Inventories 136,900 143,000 not attempted Prepaid items 26,200 11,800 not attempted Total current assets 255,500 221,800 not attempted Investments 27,000 20,900 not attempted Plant (net) 271,200 256,300 not attempted Land 29,700 25,000 not attempted Total...
Selected are recent balance sheet and income statement information: ($ millions) Ann Taylor Coach Inc Sales...
Selected are recent balance sheet and income statement information: ($ millions) Ann Taylor Coach Inc Sales $2,212 $4,763 Cost of goods sold 1,004 1,297 Average accounts receivable 19 159 Average inventory 204 463 Average total assets 907 2,870 Required For each company, compute the following: Accounts receivable turnover Inventory turnover Asset turnover Interpret and comment on any differences you observe between the turnover rates for these two companies, i.e. for each ratio, which company has the better result.
Items from the income statement, statement of retained earnings, and balance sheet are listed below in...
Items from the income statement, statement of retained earnings, and balance sheet are listed below in alphabetical order. For the companies shown in each column, solve for the missing amounts.
Analysis and Interpretation of Profitability Balance sheets and income statements for 3M Company follow. Consolidated Statements...
Analysis and Interpretation of Profitability Balance sheets and income statements for 3M Company follow. Consolidated Statements of Income Years ended December 31 ($ millions) 2009 2008 2007 Net sales $23,123 $25,269 $24,462 Operating expenses Cost of sales 12,109 13,379 12,735 Selling, general and administrative expenses 4,907 5,245 5,015 Research, development and related expenses 1,293 1,404 1,368 Loss/(gain) from sale of business -- 23 (849) Total operating expenses 18,309 20,051 18,269 Operating income 4,814 5,218 6,193 Interest expenses and income Interest...
Analysis of an income statement, balance sheet, and additional information from the accounting records of Gadgets,...
Analysis of an income statement, balance sheet, and additional information from the accounting records of Gadgets, Inc., reveals the following items. Required: Select the section of the statement of cash flows in which each of these items would be reported: operating activities (indirect method), investing activities, financing activities, or a separate noncash activities note. Items Activities 1. Purchase of a patent. 2 Depreciation expense 3 Decrease in accounts receivable Financing activities 4. lissuance of a note payable 5 Increase in...
Complete a vertical and horizontal analysis on both the income statement and balance sheet. use total...
Complete a vertical and horizontal analysis on both
the income statement and balance sheet. use total assets on the
balance sheet and net sales on the income statement for your
vertical analysis.
Styles Consolidated Statements of 12 Months Ended Earnings (USD $) In Millions, except Per Share data, unless otherwise specified Income Statement (Abstract] NET SALES Cost of Sales Vertical Vertical Horizontal Feb. 01, 2015 Feb. 02, 2014 Analysis Analysis Analysis $83,176 54,222 $78,812 51,422 GROSS PROFIT Operating Expenses: Selling,...
Prepare a horizontal analysis of both the balance sheet and income statement. Complete this question by entering your answers in the tabs below. Analysis Bal Sheet Analysis Inc Stmt Prepare a horizontal analysis of the balance sheet. (Negative answers should be indicated by a minus sign. Round your answers to 1 decimal place. (i.e., .234 sho be entered as 23.4).). FANNING COMPANY Horizontal Analysis of Balance Sheets 2019 2018 Percentage Change $ Assets Current assets Cash Marketable securities Accounts receivable...
LO2E6-29. Reformulating Balance Sheet and Income Statement Items for LIFO to FIFO ADJUSTMENTS 6.1 PHILLIPS 66 In its December 2016 10-K, Phillips 66 reported the following information ($ millions). (PSX) 2016 Assets 2016 Inventories 2016 LIFO Reserve 2016 Increase in LIFO Reserve Tax Rate $51,653 $3,150 $3,300 $2,000 35% a. Determine the necessary adjustments to the following balance sheet line items. i. Inventories ii. Total assets iii. Tax liabilities iv. Equity b. Determine the necessary adjustments to the following income...
Analysis Bal Sheet Analysis Inc Stmt Prepare a horizontal analysis of the balance sheet. (Negative answers should be indicated by a minus sign. Round your answers to 1 decimal place. (i.e., .234 should be entered as 23.4).) points FINCH COMPANY Horizontal Analysis of Balance Sheets 2019 2018 Percentage Change eBook Print $ $ References Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories Prepaid items Total current assets Investments Plant (net) Land 17,400 20,200 54,200 136,100 26,700 254,800 27,900...
The following line items are from the vertical analysis of an income statement: Amount Percent $300 300% Total revenues Total expenses Net income 200 200 100% $100 What needs to be changed on the statement? O a. The percentage for total expenses should be 33%. O b. Total revenues should be the base expressed as 100%. O c. The percentage for net income should 25%. O d. None of these choices are correct.
Analysis of an income statement, balance sheet, and additional information from the accounting records of Gadgets, Inc., reveals the following items. Required: Select the section of the statement of cash flows in which each of these items would be reported: operating activities (indirect method), investing activities, financing activities, or a separate noncash activities note. Items Activities 1. Purchase of a patent. 2 Depreciation expense 3 Decrease in accounts receivable Financing activities 4. lissuance of a note payable 5 Increase in...
Complete a vertical and horizontal analysis on both
the income statement and balance sheet. use total assets on the
balance sheet and net sales on the income statement for your
vertical analysis.
Styles Consolidated Statements of 12 Months Ended Earnings (USD $) In Millions, except Per Share data, unless otherwise specified Income Statement (Abstract] NET SALES Cost of Sales Vertical Vertical Horizontal Feb. 01, 2015 Feb. 02, 2014 Analysis Analysis Analysis $83,176 54,222 $78,812 51,422 GROSS PROFIT Operating Expenses: Selling,...
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