Homework Answers
Vertical analyses
| Amount | Percentage | Formula | |
| sales | 1,200,000.00 | 100% | (1200,000/120,000) |
| Cost of goods sold | 780,000.00 | 65% | (780000/1200000) |
| Gross Profit | 420,000.00 | 35% | (420000/1200000) |
percentage = Cost of goods sold / sales
Percentage = Gross Profit / sales
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m Set: Chapter 14 Vertical analysis Using the income statement information for Einsworth Corporation that follows,...
Using the income statement information for Omega Corporation that follows, prepare a vertical analysis of the...
Using the income statement information for Omega Corporation that follows, prepare a vertical analysis of the income statement for Omega Corporation. If required, round percentages to one decimal place. Percentage sign will appear automatically. Omega Corporation Income Statement 1 Amount Percentage 2 Sales $690,000.00 3 Cost of goods sold 372,600.00 4 Gross profit $317,400.00
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Vertical Analysis of Income Statement Revenue and expense data for Rogan Technologies Co. are as follows:...
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Exercise 14-6 Here are the comparative income statements of Delaney Corporation. Delaney Corporation Comparative Income Statements...
Exercise 14-6 Here are the comparative income statements of Delaney Corporation. Delaney Corporation Comparative Income Statements For the Years Ended December 31 2020 2019 Net sales $663,000 $548,000 Cost of goods sold 521,781 455,388 Gross profit 141,219 92,612 Operating 92,157 52,060 expenses $ 49,062 $ 40,552 Net income (a) Prepare a horizontal analysis of the income statement data for Delaney Corporation, using 2019 as a base. (Show the amounts of increase or decrease.) (Enter negative amounts and percentages using either...
Vertical Analysis of Income Statement Revenue and expense data for Innovation Quarter Inc. for two recent...
Vertical Analysis of Income Statement Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows: Current Year Previous Year Sales $605,000 $520,000 Cost of goods sold 363,000 286,000 Selling expenses 96,800 93,600 Administrative expenses 102,850 83,200 Income tax expense 18,150 20,800 a. Prepare an income statement in comparative form, stating each item for both years as a percent of sales. If required, round percentages to one decimal place. Enter all amounts as positive numbers. Innovation...
A condensed income statement for Simultech Corporation and a partially completed vertical analysis are presented below....
A condensed income statement for Simultech Corporation and a partially completed vertical analysis are presented below. Required: 1. Complete the vertical analysis by computing each missing line item as a percentage of sales revenues. (Round your answers to the nearest whole percent.) SIMULTECH CORPORATION Income Statement (summarized) in millions of U.S. dollars) Current Year Previous Year S 2.075 100% S 2.250 1,741 366 14 24 Sales Revenues 1001% Cost of Goods Sold 1,617 78 Selling, General, and Administrative Expenses353 16...
just need help figuering out the percentage and part b Vertical Analysis of Income Statement Revenue...
just need help figuering out the percentage and part b
Vertical Analysis of Income Statement Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows: Current Year Previous Year Sales $405,000 $352,000 Cost of goods sold 275,400 221,760 Selling expenses 52,650 52,800 Administrative expenses 56,700 45,760 Income tax expense 8,100 14,080 a. Prepare an income statement in comparative form, stating each item for both years as a percent of sales. If required, round percentages to...
thank you!! Hare are the comparative income statements of Crana Corporation CRANE CORPORATION Comparative Income Statement...
thank you!!
Hare are the comparative income statements of Crana Corporation CRANE CORPORATION Comparative Income Statement For the Years Ended December 31 2022 2021 Net sales $625,500 $573,800 Cost of goods sold 457,900 434,800 Gross Profit 167,600 139,000 Operating expenses 70,800 44,000 Net income $96.800 $95,000 (a Prepare a horizontal analysis of the income statamant data for Crana Corporation, using 2021as a base famount and parcantgearea dec CRANE CORPORATION Comparative Income Statement Increase or (Decrease) During 2022 2022 2021 Amount...
Exercise 13-06 a-b Here are the comparative income statements of Concord Corporation. CONCORD CORPORATION Comparative Income...
Exercise 13-06 a-b Here are the comparative income statements of Concord Corporation. CONCORD CORPORATION Comparative Income Statement For the Years Ended December 31 2019 Net sales Cost of goods sold 2020 $636,000 512,616 123,384 79,500 $ 43,884 Gross Profit $530,000 452,620 77,380 43,460 $ 33,920 Operating expenses Net income (a) Prepare a horizontal analysis of the income statement data for Concord Corporation, using 2019 as a base. (If amount and percentage are a decrease show the numbers as negative, e.g....
Complete a vertical analysis of the following income statement from Gomez Corporation. • Do not use...
Complete a vertical analysis of the following income statement from Gomez Corporation. • Do not use a negative sign in your answers. • Round to the nearest whole percentage point (for example, enter 60 for 60.4% or 61 for 60.5%). Vertical Analysis 2020 2019 Income Statement 2020 2019 % of Sales % of Sales Revenues $145,000 $159,500 0 % Cost of goods sold 102,400 115,200 0 % 0 % Gross margin 42,600 44,300 Operating expenses 30,800 35,000 $ 11,800 $...
Vertical Analysis of Income Statement Revenue and expense data for Rogan Technologies Co. are as follows: 20Y8 2017 $482,000 $429,000 Sales Cost of goods sold 255,460 197,340 Selling expenses 94,380 Administrative expenses 91,580 96,400 14,460 81,510 21,450 Income tax expense Hide a. Prepare an income statement in comparative form, stating each item for both 2048 and 2047 as a percent of sales. If required, round all amounts as positive numbers. Rogan Technologies Co. Comparative Income Statement For the Years Ended...
Exercise 14-6 Here are the comparative income statements of Delaney Corporation. Delaney Corporation Comparative Income Statements For the Years Ended December 31 2020 2019 Net sales $663,000 $548,000 Cost of goods sold 521,781 455,388 Gross profit 141,219 92,612 Operating 92,157 52,060 expenses $ 49,062 $ 40,552 Net income (a) Prepare a horizontal analysis of the income statement data for Delaney Corporation, using 2019 as a base. (Show the amounts of increase or decrease.) (Enter negative amounts and percentages using either...
A condensed income statement for Simultech Corporation and a partially completed vertical analysis are presented below. Required: 1. Complete the vertical analysis by computing each missing line item as a percentage of sales revenues. (Round your answers to the nearest whole percent.) SIMULTECH CORPORATION Income Statement (summarized) in millions of U.S. dollars) Current Year Previous Year S 2.075 100% S 2.250 1,741 366 14 24 Sales Revenues 1001% Cost of Goods Sold 1,617 78 Selling, General, and Administrative Expenses353 16...
just need help figuering out the percentage and part b
Vertical Analysis of Income Statement Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows: Current Year Previous Year Sales $405,000 $352,000 Cost of goods sold 275,400 221,760 Selling expenses 52,650 52,800 Administrative expenses 56,700 45,760 Income tax expense 8,100 14,080 a. Prepare an income statement in comparative form, stating each item for both years as a percent of sales. If required, round percentages to...
thank you!!
Hare are the comparative income statements of Crana Corporation CRANE CORPORATION Comparative Income Statement For the Years Ended December 31 2022 2021 Net sales $625,500 $573,800 Cost of goods sold 457,900 434,800 Gross Profit 167,600 139,000 Operating expenses 70,800 44,000 Net income $96.800 $95,000 (a Prepare a horizontal analysis of the income statamant data for Crana Corporation, using 2021as a base famount and parcantgearea dec CRANE CORPORATION Comparative Income Statement Increase or (Decrease) During 2022 2022 2021 Amount...
Exercise 13-06 a-b Here are the comparative income statements of Concord Corporation. CONCORD CORPORATION Comparative Income Statement For the Years Ended December 31 2019 Net sales Cost of goods sold 2020 $636,000 512,616 123,384 79,500 $ 43,884 Gross Profit $530,000 452,620 77,380 43,460 $ 33,920 Operating expenses Net income (a) Prepare a horizontal analysis of the income statement data for Concord Corporation, using 2019 as a base. (If amount and percentage are a decrease show the numbers as negative, e.g....
Complete a vertical analysis of the following income statement from Gomez Corporation. • Do not use a negative sign in your answers. • Round to the nearest whole percentage point (for example, enter 60 for 60.4% or 61 for 60.5%). Vertical Analysis 2020 2019 Income Statement 2020 2019 % of Sales % of Sales Revenues $145,000 $159,500 0 % Cost of goods sold 102,400 115,200 0 % 0 % Gross margin 42,600 44,300 Operating expenses 30,800 35,000 $ 11,800 $...
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