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Pinnacle Plus declared and paid a cash dividend of $6,400 in the current year. Its comparative...
Horizontal Analysis Increase (Decrease) in the Current year (versus Previous year) Amount Percentage Current Year Previous...
Horizontal Analysis Increase (Decrease) in the Current year (versus Previous year) Amount Percentage Current Year Previous Year $ % Income Statement Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Interest Expense Income before Income Tax Expense Income Tax Expense (30%) Net Income Balance Sheet Cash Accounts Receivable. Net 122,000 54,400 67,600 35,000 3,800 28,800 8,640 20,160 107,400 49,200 58,200 32,200 3,800 22,200 6,660 15,540 $ 15,000 5,200 9,400 2,800 0 46,600 1,980 $ 4,620 13.6 10.6 16.2 8.1...
Required: 1. Complete the two final columns shown beside each item in Pinnacle Plus's comparative financial...
Required: 1. Complete the two final columns shown beside each item in Pinnacle Plus's comparative financial statements, 2-a. Which account increased by the largest dollar amount? 2.b. Which account increased by the largest percentage? Current Previous Previous year) Amount Percentage Year Year $ % 13.6 10.6 122,000 54,400 67,600 35,000 3,800 28,800 8,640 20,160 107,400 49,200 58,200 32,200 3,800 22,200 6,660 15,540 5,200 9,400 2,800 0 6,600 1,980 4,620 0.0 29.7 29.7 29.7 OOO % Income Statement Sales Revenue Cost...
Pinnacle Plus declared and paid a cash dividend of $6,500 in the current year. Its comparative financial statements, prepared at December 31, reported the following summarized information:
Pinnacle Plus declared and paid a cash dividend of $6,500 in the current year. Its comparative financial statements, prepared at December 31, reported the following summarized information: Required:1. Complete the two final columns shown beside each item in Pinnacle Plus's comparative financial statements.2-a. Which account increased by the largest dollar amount?2-b. Which account increased by the largest percentage?
Pinnacle Plus declared and paid a cash dividend of $9,100 in the current year. Its comparative...
Pinnacle Plus declared and paid a cash dividend of $9,100 in the current year. Its comparative financial statements, prepared at December 31, reported the following summarized information: Current Year Previous Year Income Statement Sales Revenue $ 235,000 $ 199,000 Cost of Goods Sold 102,000 98,000 Gross Profit 133,000 101,000 Operating Expenses 61,000 53,000 Interest Expense 6,500 6,500 Income before Income Tax Expense 65,500 41,500 Income Tax Expense (30%) 19,650 12,450 Net Income $ 45,850 $ 29,050 Balance Sheet Cash $...
Pinnacle Plus declared and paid a cash dividend of $7,800 in the current year. Its comparative...
Pinnacle Plus declared and paid a cash dividend of $7,800 in the current year. Its comparative financial statements, prepared at December 31, reported the following summarized information: Current Year Previous Year $170,000 76,000 94,000 48,000 5,200 40,800 12,240 $ 28,560 $147,000 72,000 75,000 42,600 5, 200 27,200 8,160 $ 19,040 Income Statement Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Interest Expense Income before Income Tax Expense Income Tax Expense (30%) Net Income Balance Sheet Cash Accounts Receivable,...
Pinnacle Plus declared and paid a cash dividend of $8,100 in the current year. Its comparative financial statements, prepared at December 31, reported the following summarized information:
Pinnacle Plus declared and paid a cash dividend of $8,100 in the current year. Its comparative financial statements, prepared at December 31, reported the following summarized information: Current YearPrevious YearIncome StatementSales Revenue$185,000$159,000Cost of Goods Sold82,00078,000Gross Profit103,00081,000Operating Expenses51,00045,000Interest Expense5,5005,500Income before Income Tax Expense46,50030,500Income Tax Expense (30%)13,9509,150Net Income$32,550$21,350Balance SheetCash$89,075$23,000Accounts Receivable, Net32,00027,000Inventory40,00053,000Property and Equipment, Net110,000120,000Total Assets$271,075$223,000Accounts Payable$57,000$33,500Income Tax Payable1,3751,250Note Payable (long-term)55,00055,000Total Liabilities113,37589,750Common Stock (par $10)99,00099,000Retained Earnings58,70034,250Total Liabilities and Stockholders’ Equity$271,075$223,000 Required:1. Compute the gross profit percentage in the current and previous years. Are the current year...
Analyzing Financial Statements Using Horizontal AnalysesPinnacle Plus declared and paid a cash dividend of $6,600 in...
Analyzing Financial Statements Using Horizontal AnalysesPinnacle Plus declared and paid a cash dividend of $6,600 in the current year. Its comparative financial statements, prepared at December 31, reported the following summarized information:Required:1. Complete the two final columns shown beside each item in Pinnacle Plus’s comparative financial statements. Round the percentages to one decimal place.2. Which account increased by the largest dollar amount? Which account increased by the largest percentage?
The comparative financial statements prepared at December 31. 2014, for Pinnacle Plus showed the following summarized...
The comparative financial statements prepared at December 31. 2014, for Pinnacle Plus showed the following summarized data: 2014I11 2013 Income Statement Sales Revenue* Cost of Goods Sold $125,000 $114,000 58,000 54,000 Gross Proft Operating Expenses Interest Expense 67,000 40,500 3,500 60,000 3,500 Income before Income Tax Expense Income Tax Expense (30%) 23,000 6,900 19,000 5,700 Net Income s16,10013,300 Balance Sheet Cash Accounts Receivable, Net Inventory Property and equipment, Net 47,742 14,350 32,000 32,500 85,000 39,500 33,000 95,000 Total Assets $197.242...
Please complete entire PA13-2 with ratios correctly. Use the data given in PA13-1 for pinnacle plus....
Please complete entire PA13-2 with ratios correctly. Use the
data given in PA13-1 for pinnacle plus.
est percentage? LO 13-4, 1 PA13-2 Analyzing Comparative Financial Statements Using Selected Ratios Use the data given in PA13-1 for Pinnacle Plus. Required: 1. Compute the gross profit percentage in the current and previous years. Round the percent- ages to one decimal place. Are the current year results better, or worse, than those for the previous year? 2. Compute the net profit margin for...
The comparative financial statements prepared at December 31 for Pinnacle Plus showed the following summarized data:...
The comparative financial statements prepared at December 31 for Pinnacle Plus showed the following summarized data: Current Year Previous Year Income Statement Sales Revenue Cost of Goods Sold $125,000 58,000 $111,000 54,000 Gross Profit Operating Expenses Interest Expense 67,000 39,000 4,300 57,000 35,400 4.300 Income before Income Tax Expense Income Tax Expense (30%) 23,700 7,110 17,300 5,190 Net Income $ 16,590 $ 12,110 Balance Sheet Cash Accounts Receivable, Net Inventory Property and Equipment, Net $ 73,415 20,000 28,000 98,000 $...
Horizontal Analysis Increase (Decrease) in the Current year (versus Previous year) Amount Percentage Current Year Previous Year $ % Income Statement Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Interest Expense Income before Income Tax Expense Income Tax Expense (30%) Net Income Balance Sheet Cash Accounts Receivable. Net 122,000 54,400 67,600 35,000 3,800 28,800 8,640 20,160 107,400 49,200 58,200 32,200 3,800 22,200 6,660 15,540 $ 15,000 5,200 9,400 2,800 0 46,600 1,980 $ 4,620 13.6 10.6 16.2 8.1...
Required: 1. Complete the two final columns shown beside each item in Pinnacle Plus's comparative financial statements, 2-a. Which account increased by the largest dollar amount? 2.b. Which account increased by the largest percentage? Current Previous Previous year) Amount Percentage Year Year $ % 13.6 10.6 122,000 54,400 67,600 35,000 3,800 28,800 8,640 20,160 107,400 49,200 58,200 32,200 3,800 22,200 6,660 15,540 5,200 9,400 2,800 0 6,600 1,980 4,620 0.0 29.7 29.7 29.7 OOO % Income Statement Sales Revenue Cost...
Pinnacle Plus declared and paid a cash dividend of $7,800 in the current year. Its comparative financial statements, prepared at December 31, reported the following summarized information: Current Year Previous Year $170,000 76,000 94,000 48,000 5,200 40,800 12,240 $ 28,560 $147,000 72,000 75,000 42,600 5, 200 27,200 8,160 $ 19,040 Income Statement Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Interest Expense Income before Income Tax Expense Income Tax Expense (30%) Net Income Balance Sheet Cash Accounts Receivable,...
Analyzing Financial Statements Using Horizontal AnalysesPinnacle Plus declared and paid a cash dividend of $6,600 in the current year. Its comparative financial statements, prepared at December 31, reported the following summarized information:Required:1. Complete the two final columns shown beside each item in Pinnacle Plus’s comparative financial statements. Round the percentages to one decimal place.2. Which account increased by the largest dollar amount? Which account increased by the largest percentage?
The comparative financial statements prepared at December 31. 2014, for Pinnacle Plus showed the following summarized data: 2014I11 2013 Income Statement Sales Revenue* Cost of Goods Sold $125,000 $114,000 58,000 54,000 Gross Proft Operating Expenses Interest Expense 67,000 40,500 3,500 60,000 3,500 Income before Income Tax Expense Income Tax Expense (30%) 23,000 6,900 19,000 5,700 Net Income s16,10013,300 Balance Sheet Cash Accounts Receivable, Net Inventory Property and equipment, Net 47,742 14,350 32,000 32,500 85,000 39,500 33,000 95,000 Total Assets $197.242...
Please complete entire PA13-2 with ratios correctly. Use the
data given in PA13-1 for pinnacle plus.
est percentage? LO 13-4, 1 PA13-2 Analyzing Comparative Financial Statements Using Selected Ratios Use the data given in PA13-1 for Pinnacle Plus. Required: 1. Compute the gross profit percentage in the current and previous years. Round the percent- ages to one decimal place. Are the current year results better, or worse, than those for the previous year? 2. Compute the net profit margin for...
The comparative financial statements prepared at December 31 for Pinnacle Plus showed the following summarized data: Current Year Previous Year Income Statement Sales Revenue Cost of Goods Sold $125,000 58,000 $111,000 54,000 Gross Profit Operating Expenses Interest Expense 67,000 39,000 4,300 57,000 35,400 4.300 Income before Income Tax Expense Income Tax Expense (30%) 23,700 7,110 17,300 5,190 Net Income $ 16,590 $ 12,110 Balance Sheet Cash Accounts Receivable, Net Inventory Property and Equipment, Net $ 73,415 20,000 28,000 98,000 $...
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