Olivera Company provides the following data for the year 2013: Net Sales Revenue: $398,000 Cost of...
Olivera Company provides the following data for the year
2013:
Net Sales Revenue: $398,000
Cost of goods sold $255,000
Operating Expenses: $95,000
Income Tax Expense: $9,000
On a vertical analysis, what percentage would be shown for
operating expenses?
A. 22.9%
B. 24.5%
C. 23.9%
D. 66.4%
Homework Answers
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Olivera Company provides the following data for the year
2013:
Net Sales Revenue: $398,000
Cost of...
Olivera Inc. provides the following data for the year 2015: Sales Revenue $625,000 Sales Returns and...
Olivera Inc. provides the following data for the year 2015: Sales Revenue $625,000 Sales Returns and Allowances 20,000 Sales Discounts Net Sales Revenue 5,000 $600,000 Assume the cost of goods sold is $350,000. On vertical analysis report, gross profit as a percentage of net sales will be O A. 44.1% OB. 56.1% OC. 41.67% OD. 35.9%
Exercise 250 Operating data for Panola Land Corporation are presented below. Sales revenue Cost of goods...
Exercise 250 Operating data for Panola Land Corporation are presented below. Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Net Income 2014 $800,000 480,000 120,000 80,000 24,000 96,000 2013 $600,000 390,000 78,000 $4,000 25,000 53,000 Prepare a schedule showing a vertical analysis for 2014 and 2013. (Round percentage answers to 1 decimal place, e.g. 15.2%.) PANOLA LAND COMPANY Condensed Income Statement For the Years Ended December 31 2014 Amount
Revenue and expense data for Young Technologies Inc. are as follows: Year 2 Year 1 Sales...
Revenue and expense data for Young Technologies Inc. are as follows: Year 2 Year 1 Sales $500,000 $440,000 Cost of goods sold 325,000 242,000 Selling expenses 70,000 79,200 Administrative expenses 75,000 70,400 Income tax expense 10,500 16,400 Required: a. Prepare an income statement in comparative form, stating each item for both years as an amount and as a percent of sales. Round percentage amounts to nearest whole percent. Young Technologies Inc. Comparative Income Statement For the Years Ended December 31,...
Operating data for Blue Spruce Corp. are presented below. 2022 2021 Sales revenue Cost of goods...
Operating data for Blue Spruce Corp. are presented below. 2022 2021 Sales revenue Cost of goods sold Selling expenses $834.000 $623,500 530,700 409,600 129,000 76,200 79,600 51.000 33,500 26,800 61,200 59,900 Administrative expenses Income tax expense Net income Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, e.g. 12.1%.) BLUE SPRUCE CORP. Condensed Income Statement 2022 2021 Amount Percent Amount Percent Sales $834,000 % $623.500 Cost of goods sold 530,700 % 409,600...
*Exercise 14-2 Operating data for Navarro Corporation are presented below. 2017 2016 Net sales Cost of...
*Exercise 14-2 Operating data for Navarro Corporation are presented below. 2017 2016 Net sales Cost of goods sold Selling expenses Administrative expenses $ 754,000 469,500 124,500 65,000 30,000 65,000 $ 601,500 389,500 67,500 52,000 25,500 67,000 Income tax expense Net income Prepare a schedule showing a vertical analysis for 2017 and 2016. (Round answers to 1 decimal place, e.g. 48.5%.) NAVARRO CORPORATION Condensed Income Statements For the Years Ended December 31 2017 2016 Amount Percent Amount Percent Net sales $...
Operating data for Marigold Corp. are presented below. 2022 2021 Sales revenue $837,800 $621,700 Cost of...
Operating data for Marigold Corp. are presented below. 2022 2021 Sales revenue $837,800 $621,700 Cost of goods sold 528,600 409,400 121,500 73,300 Selling expenses Administrative expenses 76,900 54,800 Income tax expense 35,900 28,300 Net income 74,900 55,900 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, e.g. 12.1%.) MARIGOLD CORP. Condensed Income Statement 2022 2021 Amount Percent Amount Percent Sales $837,800 % $621,700 % Cost of goods sold 528,600 % 409,400 %%...
Exercise 14-4 Operating data for Joshua Corporation are presented below. 2019 Sales revenue Cost of goods...
Exercise 14-4 Operating data for Joshua Corporation are presented below. 2019 Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income 2020 $749,000 467,376 118,342 58,422 29,211 75,649 $603,000 390,744 69,948 59,094 26,532 56,682 Prepare a schedule showing a vertical analysis for 2020 and 2019. (Round answers to 1 decima 13333 Prepare a schedule showing a vertical analysis for 2020 and 2019. (Round answers to 1 decimal place, e.g. JOSHUA CORPORATION Condensed Income Statements For...
Operating data for Joshua Corporation are presented below. 2020 2019 Sales revenue $749,000 $603,000 Cost of...
Operating data for Joshua Corporation are presented below.
2020
2019
Sales revenue
$749,000
$603,000
Cost of goods sold
467,376
390,744
Selling expenses
118,342
69,948
Administrative expenses
58,422
59,094
Income tax expense
29,211
26,532
Net income
75,649
56,682
Prepare a schedule showing a vertical analysis for 2020 and 2019.
(Round answers to 1 decimal place, e.g.
48.5%.)
JOSHUA CORPORATION
Condensed Income Statements
For the Years Ended December 31
2020
2019
Amount
Percent
Amount
Percent
Sales revenue
$749,000
%
$603,000
%
Cost...
Operating data for Joshua Corporation are presented below. 2020 2019 Sales revenue $746,000 $603,000 Cost of...
Operating data for Joshua Corporation are presented below. 2020 2019 Sales revenue $746,000 $603,000 Cost of goods sold 466,250 384,714 Selling expenses 124,582 67,536 Administrative expenses 55,204 54,873 Income tax expense 37,300 24,120 Net income 62,664 71,757 Prepare a schedule showing a vertical analysis for 2020 and 2019. (Round answers to 1 decimal place, e.g. 48.5%.) JOSHUA CORPORATION Condensed Income Statements For the Years Ended December 31 2020 2019 Amount Percent Amount Percent Sales revenue $746,000 % $603,000 % Cost...
Operating data for Whispering Winds Corp. are presented below. 2017 2016 $843,200 $649,500 Sales revenue Cost...
Operating data for Whispering Winds Corp. are presented below. 2017 2016 $843,200 $649,500 Sales revenue Cost of goods sold 530,500 410,300 Selling expenses 124,100 73,600 Administrative expenses 77,200 53,900 Income tax expense 38,900 24,600 Net income 72,500 87,100 Prepare a schedule showing a vertical analysis for 2017 and 2016. (Round percentages to 1 decimal place, e.g. 12.1%) WHISPERING WINDS CORP. Condensed Income Statement 2017 2016 Amount Percent Amount Percent Sales $843,200 $649,500 Cost of goods sold 530,500 410,300 239,200 Gross...
Olivera Inc. provides the following data for the year 2015: Sales Revenue $625,000 Sales Returns and Allowances 20,000 Sales Discounts Net Sales Revenue 5,000 $600,000 Assume the cost of goods sold is $350,000. On vertical analysis report, gross profit as a percentage of net sales will be O A. 44.1% OB. 56.1% OC. 41.67% OD. 35.9%
Exercise 250 Operating data for Panola Land Corporation are presented below. Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Net Income 2014 $800,000 480,000 120,000 80,000 24,000 96,000 2013 $600,000 390,000 78,000 $4,000 25,000 53,000 Prepare a schedule showing a vertical analysis for 2014 and 2013. (Round percentage answers to 1 decimal place, e.g. 15.2%.) PANOLA LAND COMPANY Condensed Income Statement For the Years Ended December 31 2014 Amount
Operating data for Blue Spruce Corp. are presented below. 2022 2021 Sales revenue Cost of goods sold Selling expenses $834.000 $623,500 530,700 409,600 129,000 76,200 79,600 51.000 33,500 26,800 61,200 59,900 Administrative expenses Income tax expense Net income Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, e.g. 12.1%.) BLUE SPRUCE CORP. Condensed Income Statement 2022 2021 Amount Percent Amount Percent Sales $834,000 % $623.500 Cost of goods sold 530,700 % 409,600...
*Exercise 14-2 Operating data for Navarro Corporation are presented below. 2017 2016 Net sales Cost of goods sold Selling expenses Administrative expenses $ 754,000 469,500 124,500 65,000 30,000 65,000 $ 601,500 389,500 67,500 52,000 25,500 67,000 Income tax expense Net income Prepare a schedule showing a vertical analysis for 2017 and 2016. (Round answers to 1 decimal place, e.g. 48.5%.) NAVARRO CORPORATION Condensed Income Statements For the Years Ended December 31 2017 2016 Amount Percent Amount Percent Net sales $...
Operating data for Marigold Corp. are presented below. 2022 2021 Sales revenue $837,800 $621,700 Cost of goods sold 528,600 409,400 121,500 73,300 Selling expenses Administrative expenses 76,900 54,800 Income tax expense 35,900 28,300 Net income 74,900 55,900 Prepare a schedule showing a vertical analysis for 2022 and 2021. (Round percentages to 1 decimal place, e.g. 12.1%.) MARIGOLD CORP. Condensed Income Statement 2022 2021 Amount Percent Amount Percent Sales $837,800 % $621,700 % Cost of goods sold 528,600 % 409,400 %%...
Exercise 14-4 Operating data for Joshua Corporation are presented below. 2019 Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income 2020 $749,000 467,376 118,342 58,422 29,211 75,649 $603,000 390,744 69,948 59,094 26,532 56,682 Prepare a schedule showing a vertical analysis for 2020 and 2019. (Round answers to 1 decima 13333 Prepare a schedule showing a vertical analysis for 2020 and 2019. (Round answers to 1 decimal place, e.g. JOSHUA CORPORATION Condensed Income Statements For...
Operating data for Joshua Corporation are presented below.
2020
2019
Sales revenue
$749,000
$603,000
Cost of goods sold
467,376
390,744
Selling expenses
118,342
69,948
Administrative expenses
58,422
59,094
Income tax expense
29,211
26,532
Net income
75,649
56,682
Prepare a schedule showing a vertical analysis for 2020 and 2019.
(Round answers to 1 decimal place, e.g.
48.5%.)
JOSHUA CORPORATION
Condensed Income Statements
For the Years Ended December 31
2020
2019
Amount
Percent
Amount
Percent
Sales revenue
$749,000
%
$603,000
%
Cost...
Operating data for Whispering Winds Corp. are presented below. 2017 2016 $843,200 $649,500 Sales revenue Cost of goods sold 530,500 410,300 Selling expenses 124,100 73,600 Administrative expenses 77,200 53,900 Income tax expense 38,900 24,600 Net income 72,500 87,100 Prepare a schedule showing a vertical analysis for 2017 and 2016. (Round percentages to 1 decimal place, e.g. 12.1%) WHISPERING WINDS CORP. Condensed Income Statement 2017 2016 Amount Percent Amount Percent Sales $843,200 $649,500 Cost of goods sold 530,500 410,300 239,200 Gross...
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