Homework Answers
Requirement, as asked:
| Income Statement | Working | |
| For the year ended Dec 31, 2013 | ||
| ($ millions) | ||
| Revenues | $ 17,420 | [given] |
| Cost of Goods Sold | $ 7,219 | [given] |
| Gross Profits | $ 10,201 | [17420 - 7219] |
| Other expenses, inc income taxes | $ 7,791 | [10201 - 2410] |
| Net Income (or loss) | $ 2,410 | [given] |
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Calculating Gross Profit and Preparing an Income Statement In 2013,...
1. Calculating Gross Profit and Preparing an Income Statement In 2013, Adidas reported net sales of...
1. Calculating Gross Profit and Preparing an Income Statement In 2013, Adidas reported net sales of €14,492 million and cost of sales of €7,352 million. Its net income was €790 million. Calculate gross profit and prepare an income statement. 2. Applying the Accounting Equation and Calculating Return on Equity and Debt-to-Equity Ratio At the end of 2013, Adidas Group reported equity of €5,481 million and total assets of €11,599 million. Its balance in equity at the end of 2012 was...
Begin by calculating the gross profit for each year, then prepare a horizontal analysis of revenues...
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Begin by calculating the gross profit for each year, then prepare a horizontal analysis of revenues...
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Calculating Gross Profit Margin and Inventory Turnover The following table presents sales revenue, cost of goods...
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On the multiple-step income statement, "gross profit" (also known as "gross margin") is calculated as follows:...
On the multiple-step income statement, "gross profit" (also known as "gross margin") is calculated as follows: Select one: a. Net revenues less cost of goods sold less operating expenses b. Net revenues less all expenses c. Net revenues less cost of goods sold d. Net revenues less cost of goods sold less operating expenses less income tax expense
Calculating Gross Profit Margin and Inventory Turnover The following table presents sales revenue, cost of goods...
Calculating Gross Profit Margin and Inventory Turnover The following table presents sales revenue, cost of goods sold, and inventory amounts for three retailers of fine jewelry, Tiffany & Co., Zale Corporation, and Blue Nile, Inc. (an Internet retailer). 2013 2012 $4,031 53,794 1,091 1,631 2.327 2.234 (5 millions) Tiffany & Co. Revenues cost of goods sold Inventory Zale Corporation Revenues Cost of goods sold Inventory Blue Nile, Inc. Revenues cost of goods sold Inventory 51.888 $1.867 904 906 768 742...
Check PA6-5 Preparing a Multistep Income Statement and Computing the Gross Profit Percentage [LO 6-5) [The...
Check PA6-5 Preparing a Multistep Income Statement and Computing the Gross Profit Percentage [LO 6-5) [The following information applies to the questions displayed below.] Big Tommy Corporation is a local grocery store organized seven years ago as a corporation. The bookkeeper prepared the following statement at year-end (assume that all amounts are correct, but note the incorrect format): BIG TOMMY CORPORATION Profit and Loss December 31 Debit Credit $ 356,700 Net Sales Cost of Goods Sold Salaries and Wages Expense...
PA6-5 Preparing a Multistep Income Statement and Computing the Gross Profit Percentage LO 6-6 © Big...
PA6-5 Preparing a Multistep Income Statement and Computing the Gross Profit Percentage LO 6-6 © Big Tommy Corporation is a local grocery store organized seven years ago as a corporation. The bookkeeper prepared the following statement at year-end (assume that all amounts are correct, but note the incorrect format): BIG TOMMY CORPORATION Profit and Loss December 31 Debit Credit $404.000 $279,000 58,000 Net Sales Cost of Goods Sold Salaries and Wages Expense Office Expenses Travel Expenses Income Tax Expense Net...
Lehman Company has the following income statement information for the years 2011- 2013: 2011 Income 2012...
Lehman Company has the following income statement information for the years 2011- 2013: 2011 Income 2012 Income 2013 Income Statement as Statement as Statement Sales Reported Totals Reported 10.000.000 Cost of Goods Sold 12.500.000 13.000.000 6,200,000 Gross Profit 7.250.000 8,060,000 3,800,000 5.250.000 4,940,000 Operating Expenses 2,100,000 2.835.000 2.519.000 Income from Operations 1.700.000 2.415.000 2,421,000 Non-Operating Items (220.000) (170.000) [250.000) Income from Continuing Operations 1,480,000 2.245.000 2,171,000 Income Tax Expense 296,000 561.000 478.000 Net Income 1,184,000 1,684,000 1,693.000 During 2013, Lehman...
Refer to the income statement presented in exhibit 2.10 Südzucker AG. Calculate gross profit margin (gross...
Refer to the income statement presented in exhibit 2.10
Südzucker AG.
Calculate gross profit margin (gross profit/sales),
operating profit margin (operating profit/sales), and net profit
margin (net earnings/sales) for this company. If a particular ratio
cannot be calculated, explain why not.
EXHIBIT 2.10 SÜDZUCKER AG Statement of Comprehensive Income 1 March 2016 to 28 February 2017 € million Notes 2016/17 2015/16 Revenues (6) 6,476.0 6,387.0 Change in work in progress and finished goods inventories and internal costs capitalized 141.1 -...
Calculating Gross Profit Margin and Inventory Turnover The following table presents sales revenue, cost of goods sold, and inventory amounts for three retailers of fine jewelry, Tiffany & Co., Zale Corporation, and Blue Nile, Inc. (an Internet retailer). (5 millions) 2013 2012 Tiffany & Co. Revenues $4,031 $3,794 Cost of goods sold 1,091 1,631 Inventory 2.327 2.234 Zale Corporation Revenues 51,885 51.867 Cost of goods sold 904 906 Inventory 768 742 Blue Nile, Inc Revenues 5450 5400 Cost of goods...
On the multiple-step income statement, "gross profit" (also known as "gross margin") is calculated as follows: Select one: a. Net revenues less cost of goods sold less operating expenses b. Net revenues less all expenses c. Net revenues less cost of goods sold d. Net revenues less cost of goods sold less operating expenses less income tax expense
Calculating Gross Profit Margin and Inventory Turnover The following table presents sales revenue, cost of goods sold, and inventory amounts for three retailers of fine jewelry, Tiffany & Co., Zale Corporation, and Blue Nile, Inc. (an Internet retailer). 2013 2012 $4,031 53,794 1,091 1,631 2.327 2.234 (5 millions) Tiffany & Co. Revenues cost of goods sold Inventory Zale Corporation Revenues Cost of goods sold Inventory Blue Nile, Inc. Revenues cost of goods sold Inventory 51.888 $1.867 904 906 768 742...
Check PA6-5 Preparing a Multistep Income Statement and Computing the Gross Profit Percentage [LO 6-5) [The following information applies to the questions displayed below.] Big Tommy Corporation is a local grocery store organized seven years ago as a corporation. The bookkeeper prepared the following statement at year-end (assume that all amounts are correct, but note the incorrect format): BIG TOMMY CORPORATION Profit and Loss December 31 Debit Credit $ 356,700 Net Sales Cost of Goods Sold Salaries and Wages Expense...
PA6-5 Preparing a Multistep Income Statement and Computing the Gross Profit Percentage LO 6-6 © Big Tommy Corporation is a local grocery store organized seven years ago as a corporation. The bookkeeper prepared the following statement at year-end (assume that all amounts are correct, but note the incorrect format): BIG TOMMY CORPORATION Profit and Loss December 31 Debit Credit $404.000 $279,000 58,000 Net Sales Cost of Goods Sold Salaries and Wages Expense Office Expenses Travel Expenses Income Tax Expense Net...
Lehman Company has the following income statement information for the years 2011- 2013: 2011 Income 2012 Income 2013 Income Statement as Statement as Statement Sales Reported Totals Reported 10.000.000 Cost of Goods Sold 12.500.000 13.000.000 6,200,000 Gross Profit 7.250.000 8,060,000 3,800,000 5.250.000 4,940,000 Operating Expenses 2,100,000 2.835.000 2.519.000 Income from Operations 1.700.000 2.415.000 2,421,000 Non-Operating Items (220.000) (170.000) [250.000) Income from Continuing Operations 1,480,000 2.245.000 2,171,000 Income Tax Expense 296,000 561.000 478.000 Net Income 1,184,000 1,684,000 1,693.000 During 2013, Lehman...
Refer to the income statement presented in exhibit 2.10
Südzucker AG.
Calculate gross profit margin (gross profit/sales),
operating profit margin (operating profit/sales), and net profit
margin (net earnings/sales) for this company. If a particular ratio
cannot be calculated, explain why not.
EXHIBIT 2.10 SÜDZUCKER AG Statement of Comprehensive Income 1 March 2016 to 28 February 2017 € million Notes 2016/17 2015/16 Revenues (6) 6,476.0 6,387.0 Change in work in progress and finished goods inventories and internal costs capitalized 141.1 -...
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